Bentley Infrastructure

To p O w n e r s 2 0 1 8

InfrastructureB e n t l e y

5 0 0

Bentley is a global leader in providing architects, engineers,

geospatial professionals, constructors, and owner-operators

with comprehensive software solutions for advancing the

design, construction, and operations of infrastructure.

A b o u t B e n t l e y S y s t e m s

*As measured by reported net tangible fixed assets.WWW.BENTLEY.COM 1

Rank Owner Infrastructure Value* (millions USD)

Headquarters Country

1 UNITED STATES MILITARY $295,400 United States

2 EXXONMOBIL $252,630 United States

3 ROYAL DUTCH SHELL $226,380 Netherlands

4 UNITED STATES CIVILIAN AGENCIES $202,300 United States

5 SURGUTGAZPROM $197,371 Russia

6 CHEVRON OVERSEAS PETROLEUM $177,712 United States

7 PETROBRAS $176,681 Brazil

8 ELECTRICITE DE FRANCE $165,465 France

9 HIGHWAYS ENGLAND $146,414 United Kingdom

10 KOREA ELECTRIC POWER $140,718 South Korea

11 STATE OF CALIFORNIA $140,666 United States

12 ROSNEFT $137,552 Russia

13 STATE OF TEXAS $136,270 United States

14 AUSTRALIA DEPARTMENT OF LAND INFORMATION $130,978 Australia

15 CHINA NATIONAL PETROLEUM $130,382 China

16 BP AMOCO $126,220 United Kingdom

17 PETROLEOS DE VENEZUELA $125,984 Venezuela

18 AT&T $125,222 United States

19 WAL-MART STORES $114,818 United States

20 MINISTERIE VAN FINANCIEN (NETHERLANDS) $111,763 Netherlands

21 CHINA MOBILE $111,515 China

22 TOTAL $109,397 France

23 SAUDI ELECTRICITY $107,682 Saudi Arabia

24 STATE OF NEW YORK $104,831 United States

The Bentley Infrastructure 500 is a ranking of the top owners of infrastructure around the world from both the public and private sectors that is published annually. The rankings make it possible to readily compare investment levels across types of infrastructure, regions of the world, and public and private organizations.

Bentley Systems has compiled the Bentley Infrastructure 500 to help global constituents appreciate and explore the magnitude of investment in infrastructure and the potential to continually increase the return on that investment. The BI 500 ’s value, at over USD 16.1 trillion, is about equal to the combined 2017 GDPs of China and Japan. Bentley is committed to increasing infrastructure investment returns through BIM advancements that enhance project delivery and asset performance.

2 0 1 8 B e n t l e y I n f r a s t r u c t u r e 5 0 0To p O w n e r s R a n k i n g

*As measured by reported net tangible fixed assets.WWW.BENTLEY.COM2



25 SAMSUNG ENGINEERING $104,312 South Korea

26 TOYOTA $96,692 Japan

27 CHINA PETRO $95,252 China

28 NTT DATA $92,486 Japan

29 DAIMLER $90,781 Germany

30 DEPARTMENT OF MINERAL RESOURCES (SOUTH AFRICA) $90,102 South Africa

31 ENEL $89,872 Italy

32 VERIZON $88,568 United States

33 DUKE ENERGY $86,391 United States

34 STATE OF FLORIDA $86,185 United States

35 CHINA SOUTHERN POWER GRID $85,745 China

36 TRANSPORT FOR NEW SOUTH WALES $84,278 Australia

37 SOUTHERN COMPANY SERVICES $79,872 United States

38 TOKYO ELECTRIC POWER SERVICES $79,607 Japan

39 GENERAL MOTORS $79,135 United States

40 SAN JUAN COAL $79,067 Australia

41 NETWORK RAIL $78,194 United Kingdom

42 RESEAU FERRE DE FRANCE $76,957 France

43 GOVERNMENT OF ONTARIO $76,186 Canada

44 ENI $75,745 Italy

45 PETROLIAM NASIONAL BERHAD $74,400 Malaysia

46 EXELON BUSINESS SERVICES $74,202 United States

47 CHINA TELECOM $73,617 China

48 NEXTERRA ENERGY $72,416 United States

49 PEMEX $71,768 Mexico

50 ENBRIDGE EMPLOYEE SERVICES CANADA $71,752 Canada

51 MINISTRY OF DEFENCE (UNITED KINGDOM) $70,882 United Kingdom

52 IBERDROLA $69,438 Spain

53 COMISION FEDERAL DE ELECTRICIDAD $66,743 Mexico

54 VOLKSWAGEN $66,253 Germany

55 KUWAIT NATIONAL PETROLEUM $65,484 Kuwait

56 RELIANCE INDUSTRIES $63,874 India

57 CHINA UNICOM $63,784 China

58 STATOIL $63,636 Norway

59 FORD MOTOR $63,562 United States

60 BURLINGTON NORTHERN SANTA FE RAIL $62,313 United States

61 RIO TINTO $62,093 Australia

62 LUKOIL $62,069 Russia

63 EAST JAPAN RAILWAY $61,218 Japan

64 ENGIE $61,055 France

65 CHINA NATIONAL OFFSHORE OIL $60,340 China

66 SWISS FEDERAL INSTITUTE OF TECHNOLOGY $60,333 Switzerland

67 SUNCOR ENERGY $58,383 Canada




68 GOVERNMENT OF HONG KONG $57,961 China

69 NEW YORK CITY HOUSING AUTHORITY $57,517 United States

70 GLENCORE INTERNATIONAL $57,046 Switzerland

71 VALE CANADA $57,027 Brazil

72 DEUTSCHE TELEKOM $56,221 Germany

73 NATIONAL GRID USA SERVICE $55,550 United Kingdom

74 SHENHUA $54,846 China

75 GENERAL ELECTRIC COMPANY $53,874 United States

76 PACIFIC GAS & ELECTRIC $53,868 United States

77 THE JARDINE ENGINEERING $53,784 Bermuda

78 DOMINION ENERGY $53,758 United States

79 GOVERNMENT OF CANADA $53,007 Canada

80 BROOKFIELD ASSET MANAGEMENT $53,005 Canada

81 TAIWAN POWER $51,992 Taiwan

82 CANADIAN NATURAL RESOURCES $51,772 Canada

83 UNION PACIFIC RAILROAD $51,605 United States

84 STATE OF NORTH CAROLINA $51,153 United States

85 ENERGY TRANSFER PARTNERS $50,917 United States

86 TEMASEK HOLDINGS $50,875 Singapore

87 FERROVIE DELLO STATO $50,697 Italy

88 CANADIAN MINISTRY OF NATURAL RESOURCES $50,553 Canada

89 AMERICAN ELECTRIC POWER $50,262 United States

90 NISSAN $49,587 Japan

91 AMAZON COM $48,866 United States

92 HYDRO-QUEBEC $48,682 Canada

93 DEPARTMENT OF TRANSPORT AND MAIN ROADS (AUSTRALIA) $48,613 Australia

94 THE KANSAI ELECTRIC POWER $47,374 Japan

95 RODAMCO SVERIGE $46,678 France

96 INDIAN RAILWAYS $46,668 India

97 CHINA THREE GORGES $46,245 China

98 STANFORD UNIVERSITY $46,064 United States

99 TRANSPORT FOR LONDON $45,974 United Kingdom

100 CONOCOPHILLIPS $45,683 United States

101 TRANSCANADA PIPELINES $45,501 Canada

102 SAUDI ARABIA BASIC INDUSTRIES $44,575 Saudi Arabia

103 STATE OF WASHINGTON $43,621 United States

104 HUANENG POWER INTERNATIONAL $43,543 China

105 CITY OF LOS ANGELES $43,371 United States

106 SWISS FEDERAL RAILWAYS $42,899 Switzerland

107 CHINA GENERAL NUCLEAR POWER $42,575 China

108 GOOGLE $42,383 United States

109 RUSSIAN RAILWAYS $41,488 Russia

110 INTEL $41,109 United States




111 TELEFONICA DE ESPAÑA $41,046 Spain

112 TRAFIKVERKET $40,764 Sweden

113 KINDER MORGAN $40,155 United States

114 TRANSNEFT $39,386 Russia

115 CENTRAL JAPAN RAILWAY $39,297 Japan

116 METROPOLITAN TRANSPORTATION AUTHORITY (NEW YORK) $39,095 United States

117 CHINA NATIONAL NUCLEAR $39,079 China

118 EDISON $39,050 United States

119 COMCAST $38,470 United States

120 VODAFONE $38,377 United Kingdom

121 GOVERNMENT OF ALBERTA $38,268 Canada

122 LAFARGE $38,185 France

123 INDUSTRIAL & COMMERCIAL BANK OF CHINA $38,046 China

124 COMMONWEALTH OF PENNSYLVANIA $38,033 United States

125 CONSOLIDATED EDISON $37,600 United States

126 MITSUBISHI $37,498 Japan

127 CHUBU PLANT SERVICE $37,082 Japan

128 ARCELORMITTAL STEEL $36,971 Luxembourg

129 SOUTHERN CALIFORNIA GAS $36,503 United States

130 ESKOM $36,444 South Africa

131 SOFTBANK $36,320 Japan

132 MAIN ROADS WESTERN AUSTRALIA $35,678 Australia

133 ENTERPRISE PRODUCTS PARTNERS $35,620 United States

134 TAIWAN SEMICONDUCTOR $35,598 Taiwan

135 GUODIAN UNITED POWER TECHNOLOGY $34,912 China

136 FIAT $34,796 Netherlands

137 ROADS SERVICE (UNITED KINGDOM) $34,571 United Kingdom

138 XCEL ENERGY SERVICES $34,329 United States

139 AMERICA MOVIL PERU $34,182 Mexico

140 TIME WARNER CABLE $33,888 United States

141 APPLE INC $33,783 United States

142 KYUSHU ELECTRIC POWER $33,296 Japan

143 STATE OF GEORGIA $33,217 United States

144 PPL GENERATION $33,092 United States

145 PTT PUBLIC COMPANY $32,952 Thailand

146 STATE OF MISSOURI $32,796 United States

147 COMMONWEALTH OF VIRGINIA $32,635 United States

148 FRANCE TELECOM $31,979 France

149 PSE & G $31,797 United States

150 AUCKLAND COUNCIL $31,766 New Zealand

151 SUMITOMO HEAVY INDUSTRIES $31,739 Japan

152 GOVERNMENT OF BRITISH COLUMBIA $31,420 Canada

153 JX NIPPON OIL & ENERGY $31,334 Japan

154 OCCIDENTAL CHEMICAL $31,174 United States




155 HOLCIM $30,915 Switzerland

156 UNIVERSITY OF CALIFORNIA $30,670 United States

157 FEDERAL GOVERNMENT OF MEXICO $30,612 Mexico

158 PORT AUTHORITY OF NEW YORK & NEW JERSEY $30,576 United States

159 MITSUI FUDOSAN $30,555 Japan

160 DUBAI ELECTRICITY & WATER AUTHORITY $30,414 United Arab Emirates

161 BASF $30,292 Germany

162 STATE OF WISCONSIN $30,255 United States

163 ENTERGY $29,925 United States

164 STATE OF MARYLAND $29,897 United States

165 RWE $29,867 Germany

166 TOHOKU ELECTRIC POWER $29,781 Japan

167 E.ON $29,702 Germany

168 POSCO ENGINEERING & CONSTRUCTION $29,617 South Korea

169 DEUTSCHE BAHN $29,507 Germany

170 REPSOL $29,503 Spain

171 BANQUE PARIBAS $29,364 France

172 STATE OF TENNESSEE $29,314 United States

173 STATE OF ARIZONA $29,113 United States

174 JAPAN POST $29,011 Japan

175 SONELGAZ $28,893 Algeria

176 JSC HOLDING $28,857 Russia

177 HONDA MOTOR $28,839 Japan

178 WALT DISNEY $28,406 United States

179 NESTLE $28,271 Switzerland

180 WILLIAMS GAS PIPELINE $28,211 United States

181 FIRSTENERGY SERVICE $28,176 United States

182 NTPC $28,103 India

183 CHINA DATANG TECHNOLOGIES & ENG $27,913 China

184 HYUNDAI ENGINEERING $27,871 South Korea

185 STATE OF OHIO $27,750 United States

186 SDIC HUAJING POWER HOLDINGS $27,700 China

187 OIL & NATURAL GAS (INDIA) $27,671 India

188 VALERO $27,480 United States

189 QATAR PETROLEUM $27,465 Qatar

190 ANADARKO PETROLEUM $27,451 United States

191 IKEA $27,401 Netherlands

192 EDP PRODUCAO $27,261 Portugal

193 STATE OF NEW JERSEY $27,243 United States

194 ANHEUSER BUSCH $27,184 Belgium

195 NIPPON STEEL $27,074 Japan

196 POWER GRID CORPORATION OF INDIA $26,930 India

197 TIAA REAL ESTATE ACCOUNT $26,871 United States

198 CENTURYLINK $26,852 United States




199 MARATHON PETROLEUM $26,443 United States

200 CARGILL $26,329 United States

201 SPECTRA ENERGY $26,208 United States

202 ANAS $26,205 Italy

203 AGUAS ARAUCANIA $26,204 Spain

204 GAS NATURAL (SPAIN) $26,184 Spain

205 CHINA CONSTRUCTION BANK $26,058 China

206 CHINA HUADIAN ENGINEERING $26,006 China

207 CSX TRANSPORTATION $25,907 United States

208 TENAGA NASIONAL BERHAD $25,773 Malaysia

209 AEON CO LTD $25,672 Japan

210 EOG RESOURCES $25,665 United States

211 TESCO $25,523 United Kingdom

212 INTERNATIONAL PETROLEUM INVESTMENT $25,445 United Arab Emirates

213 CITY OF CHICAGO $25,182 United States

214 CITIC PACIFIC $25,089 China

215 OSTERREICHISCHE BUNDESBAHNEN $25,064 Austria

216 WELLTOWER $25,009 United States

217 STATE OF KENTUCKY $24,962 United States

218 A. HAK LEIDINGBOUW $24,951 Netherlands

219 EQT CORPORATION $24,885 United States

220 NORFOLK SOUTHERN $24,860 United States

221 SURGUTNEFTEGAZ $24,840 Russia

222 TARGET $24,536 United States

223 CORPORACION NACIONAL DEL COBRE DE CHILE $24,532 Chile

224 OAO KONTSERN ROSENERGOATOM $24,474 Russia

225 SIMON PROPERTY $24,458 United States

226 VATTENFALL $24,384 Sweden

227 BAOSHAN IRO & STEEL $24,369 China

228 CHENIERE ENERGY $23,978 United States

229 BRITISH TELECOM $23,905 United Kingdom

230 DOW CHEMICAL $23,812 United States

231 STATE OF MICHIGAN $23,734 United States

232 MICROSOFT $23,734 United States

233 LIDL $23,618 Germany

234 NORTHEAST UTILITIES $23,617 United States

235 FORTISBC ENERGY $23,568 Canada

236 STATE OF CONNECTICUT $23,541 United States

237 CENOVUS ENERGY $23,511 Canada

238 AGRICULTURAL BANK OF CHINA $23,508 China

239 CHUGOKU ELECTRIC POWER $23,466 Japan

240 HUTCHISON WHAMPOA $23,435 China

241 KDDI $22,951 Japan




242 STATE OF ALABAMA $22,889 United States

243 ROBERT BOSCH $22,875 Germany

244 FREEPORT-MCMORAN COPPER & GOLD $22,844 United States

245 STATE OF ILLINOIS $22,748 United States

246 NATIONAL LAND SERVICE (LITHUANIA) $22,650 Lithuania

247 CANADIAN NATIONAL RAILWAY $22,582 Canada

248 SK HYNIX $22,477 South Korea

249 MCDONALDS $22,448 United States

250 LAND HESSEN $22,291 Germany

251 WEST JAPAN RAILWAY $22,267 Japan

252 AIR LIQUIDE GLOBAL $22,218 France

253 BMW $22,152 Germany

254 UPS $22,118 United States

255 HOME DEPOT $22,075 United States

256 CITY OF SAN FRANCISCO $22,070 United States

257 CITY OF TORONTO $22,052 Canada

258 HENDERSON LAND DEVELOPMENT $22,041 Hong Kong

259 SASOL $22,040 South Africa

260 TRANSNET $21,899 South Africa

261 PROLOGIS $21,779 United States

262 ECOPETROL $21,728 Colombia

263 PRORAIL $21,706 Netherlands

264 TECK $21,664 Canada

265 STATE OF COLORADO $21,504 United States

266 AMEREN SERVICES $21,466 United States

267 PHILLIPS 66 $21,460 United States

268 F. HOFFMANN-LA ROCHE $21,442 Switzerland

269 BOE TECHNOLOGY $21,406 China

270 INFRABEL $21,374 Belgium

271 THAMES WATER UTILITIES $21,353 United Kingdom

272 WE ENERGIES $21,347 United States

273 SAUDI ARABIAN MINING $21,320 Saudi Arabia

274 DEVON ENERGY $21,171 United States

275 KROGER $21,071 United States

276 COMMONWEALTH EDISON $20,723 United States

277 DTE ENERGY $20,721 United States

278 VENTAS $20,622 United States

279 KOREA GAS $20,591 South Korea

280 AES CORPORATION $20,296 United States

281 HEBEI IRON & STEEL $20,128 China

282 CEZ $20,103 Czech Republic

283 ORIGIN ENERGY $20,022 Australia

284 MITSUBISHI HITACHI POWER SYSTEMS $20,010 Japan

285 EQUITY PROPERTIES $19,987 United States




286 AIRBUS $19,919 Netherlands

287 PROCTER & GAMBLE $19,893 United States

288 HYUNDAI STEEL $19,874 South Korea

289 TELECOM ITALIA $19,845 Italy

290 CHINA NATIONAL BUILDING MATERIAL $19,736 China

291 INDIAN OIL $19,736 India

292 LOWES $19,721 United States

293 SPRINT $19,712 United States

294 MGM MIRAGE $19,635 United States

295 LOS ANGELES COUNTY $19,586 United States

296 CHINA COAL ENERGY $19,562 China

297 WOODSIDE ENERGY $19,539 Australia

298 LIBERTY GLOBAL $19,535 United States

299 TAQA BRATANI $19,499 United Arab Emirates

300 MICRON TECHNOLOGY $19,431 United States

301 MOSCOW METRO $19,396 Russia

302 INPEX $19,254 Japan

303 SNAM $19,228 Italy

304 PACIFICORP $19,203 United States

305 STATE OF MINNESOTA $19,176 United States

306 HUSKY OIL OPERATIONS $19,128 Canada

307 ANGLO OPERATIONS $19,107 United Kingdom

308 BELL CANADA $19,092 Canada

309 CITY OF MIAMI $18,975 United States

310 YACIMIENTOS PETROLÃ�FEROS FISCALES BOLIVI $18,889 Argentina

311 STATE OF UTAH $18,746 United States

312 ENBW $18,706 Germany

313 SOCIETE GENERALE $18,699 France

314 ELECTRIC POWER DEVELOPMENT $18,698 Japan

315 DEPARTMENT OF DEFENCE (AUSTRALIA) $18,611 Australia

316 SEVEN AND I $18,538 Japan

317 MITSUBISHI HEAVY INDUSTRIES $18,474 Japan

318 SCOTTISH & SOUTHERN ENERGY $18,451 United Kingdom

319 CHINA RESOURCES POWER HOLDINGS $18,332 China

320 GENERAL GROWTH PROPERTIES $18,256 United States

321 HOUSING NEW ZEALAND $18,250 New Zealand

322 STATE GRID COMPANY PROJECT MANAGEMENT $18,233 China

323 COSTCO WHOLESALE $18,161 United States

324 HCA HOLDINGS $17,895 United States

325 QUADRANT ENERGY $17,759 United States

326 MARATHON OIL $17,665 United States

327 AVALONBAY COMMUNITIES $17,649 United States

328 CLP POWER $17,559 China




329 ITAIPU BINACIONAL $17,520 Paraguay

330 ENERGY DEVELOPMENT $17,502 United States

331 TENNET TSO $17,426 Netherlands

332 TRANSOCEAN OFFSHORE EUROPE $17,402 Switzerland

333 INVITATION HOMES $17,329 United States

334 CITY OF HOUSTON $17,318 United States

335 MEXICO CITY TRANSIT $17,291 Mexico

336 PEPSICO $17,240 United States

337 HOUSING & DEVELOPMENT BOARD (SINGAPORE) $17,205 Singapore

338 FIRST QUANTUM MINERALS $17,173 Canada

339 ISRAEL ELECTRIC $17,170 Israel

340 STATE OF SOUTH CAROLINA $17,028 United States

341 JOHNSON & JOHNSON $17,005 United States

342 CHINA LONGYUAN POWER $16,788 China

343 STATE OF MISSISSIPPI $16,787 United States

344 CONSUMERS ENERGY $16,761 United States

345 LAS VEGAS SANDS $16,753 United States

346 PGE GORNICTWO I ENERGETYKA $16,741 Poland

347 NIPPON LIFE INSURANCE $16,651 Japan

348 MINISTERIO DE MINAS Y ENERGIA $16,646 Colombia

349 BOSTON PROPERTIES $16,507 United States

350 HANKYU HANSHIN HOLDINGS $16,475 Japan

351 NOVARTIS $16,464 Switzerland

352 TELSTRA $16,422 Australia

353 OMV SOLUTIONS $16,375 Austria

354 STATE OF LOUISIANA $16,368 United States

355 TATA STEEL $16,346 India

356 STATE OF INDIANA $16,298 United States

357 RENAULT $16,289 France

358 AMERICAN WATER WORKS SERVICE $16,246 United States

359 FEDERAL GRID CO OF UNIFIED ENERGY SYS $16,222 Russia

360 KOREA RAILROAD TECHNICAL $16,215 South Korea

361 AMERADA HESS $16,192 United States

362 CHINA FAW $16,186 China

363 LLOYDS BANKING $16,164 United Kingdom

364 UNILEVER $16,094 Netherlands

365 ADMINISTRADOR DE INFRAESTRUCTURAS FERROV $16,082 Spain

366 STATE OF ARKANSAS $16,081 United States

367 AUSTRALIAN CAPITAL TERRITORY $16,061 Australia

368 PEUGEOT BELGIQUE-LUXEMBOURG $15,893 France

369 CHRISTIAN DIOR $15,852 France

370 LOUIS VUITTON $15,838 France

371 TOKYU $15,760 Japan

372 SEAWELL MANAGEMENT $15,730 Bermuda




373 CARREFOUR $15,707 France

374 CRH PUBLIC $15,704 Ireland

375 FORTESCUE METALS $15,680 Australia

376 FGP TOPCO $15,560 United Kingdom

377 MITSUI & CO $15,502 Japan

378 POWER CONSTRUCTION CORPORATION OF CHINA $15,491 China

379 VASAKRONAN $15,463 Sweden

380 LOEWS $15,427 United States

381 VEDANTA RESOURCES $15,406 United Kingdom

382 HANSON HEIDELBURG CEMENT $15,368 Germany

383 TERNA QATAR $15,294 Italy

384 STATE OF IOWA $15,235 United States

385 ALECTRA UTILITIES $15,217 Canada

386 UNITED UTILITIES $15,173 United Kingdom

387 WEYERHAEUSER $15,105 United States

388 DENSO $14,985 Japan

389 PLAINS GP HOLDINGS $14,977 United States

390 JFE ENGINEERING $14,874 Japan

391 HOKKAIDO POWER ENGINEERING $14,778 Japan

392 TESORO PETROLEUM $14,742 United States

393 CHINA ALUMINUM INTERNATIONAL ENGINEERING $14,676 China

394 GLAXOSMITHKLINE $14,673 United Kingdom

395 BRISBANE CITY COUNCIL $14,647 Australia

396 HEATHROW AIRPORT $14,626 United Kingdom

397 BANK OF CHINA $14,621 China

398 LOS ANGELES UNIFIED SCHOOL DISTRICT $14,541 United States

399 GOLDCORP $14,396 Canada

400 NISOURCE $14,360 United States

401 STATE OF OREGON $14,276 United States

402 CPC $14,208 Taiwan

403 MIDAMERICAN ENERGY $14,207 United States

404 CATERPILLAR $14,155 United States

405 LINDE AG ZENTRALVERWALTUNG $14,099 Germany

406 PUBLIC SERVICE COMPANY OF COLORADO $14,026 United States

407 CORNING $14,017 United States

408 ANTARCHILE $13,950 Chile

409 LOTTE SHOPPING $13,927 South Korea

410 NRG ENERGY $13,908 United States

411 SAINT GOBAIN $13,900 France

412 RUSHYDRO $13,886 Russia

413 PFIZER $13,865 United States

414 PUBLIC POWER (GREECE) $13,822 Greece

415 BARRICK GOLDSTRIKE MINES $13,806 Canada

416 STATE OF KANSAS $13,785 United States




417 ATCO TECHNOLOGY MANAGEMENT $13,777 Canada

418 INTERNATIONAL PAPER $13,713 United States

419 WALGREENS $13,642 United States

420 J SAINSBURY $13,640 United Kingdom

421 PIONEER NATURAL RESOURCES $13,525 United States

422 EMERA $13,501 Canada

423 MITSUBISHI CHEMICAL ENGINEERING $13,499 Japan

424 SYDNEY WATER $13,498 Australia

425 MIGROS $13,471 Switzerland

426 J.P. MORGAN CHASE BANK $13,452 United States

427 SPARKASSE PFORZHEIM CALW $13,407 Germany

428 FINANCIERE AGACHE $13,401 France

429 CHINA STEEL $13,336 China

430 ANTERO RESOURCES APPALACHIAN $13,236 United States

431 PINNACLE WEST CAPITAL $13,188 United States

432 GROUPE AUCHAN $13,186 France

433 MTR CORPORATION $13,167 China

434 KINTETSU ENGINEERING $13,132 Japan

435 CENTERPOINT ENERGY GAS BUSINESS $13,057 United States

436 STATE OF HAWAII $13,053 United States

437 MICHELIN $13,052 France

438 BRIDGESTONE $13,047 Japan

439 CONCHO VALLEY ELECTRIC $13,041 United States

440 EL CORTE INGLES $13,039 Spain

441 HSBC $12,990 Hong Kong

442 POTASHCORP $12,971 Canada

443 SIEMENS $12,959 Germany

444 CITY OF CHARLOTTE $12,940 United States

445 PANASONIC $12,940 Japan

446 CONTINENTAL RESOURCES $12,934 United States

447 ENBRIDGE ENERGY PARTNERS $12,896 United States

448 ENSCO $12,874 United Kingdom

449 CALPINE $12,724 United States

450 ONEOK $12,698 United States

451 SK INNOVATION $12,692 Republic of Korea

452 KANSAI INTERNATIONAL AIRPORT $12,692 Japan

453 KT ENG $12,669 South Korea

454 KIA MOTORS $12,583 Republic of Korea

455 STATKRAFT $12,569 Norway

456 MERCK & COMPANY $12,439 United States

457 TOKYO GAS ENGINEERING $12,424 Japan

458 NEWMONT GOLD $12,338 United States

459 STICHTING YMERE $12,281 Netherlands

460 CITY OF ATLANTA $12,255 United States




461 HERTZ GLOBAL HOLDINGS $12,176 United States

462 WATER CORPORATION OF WESTERN AUSTRALIA $12,133 Australia

463 PRAXAIR $12,057 United States

464 EMIRATES TELECOMMUNICATIONS $11,928 United Arab Emirates

465 SEVERN TRENT WATER $11,913 United Kingdom

466 VORNADO REALTY TRUST $11,871 United States

467 TOBU RAILWAY $11,863 Japan

468 OSPREY $11,862 United Kingdom

469 ANGLIAN WATER SERVICES $11,852 United Kingdom

470 CEMEX CENTRAL $11,733 Mexico

471 RABIGH REFINING AND PETROCHEMICALS $11,722 Saudi Arabia

472 CITY OF PHOENIX $11,711 United States

473 LYONDELLBASELL POLYLEFINE $11,710 Netherlands

474 HRVATSKE CESTE $11,687 Croatia

475 STOCKHOLMS STAD $11,619 Sweden

476 HELLENIC RAILWAYS ORGANIZATION $11,615 Greece

477 WASTE MANAGEMENT $11,559 United States

478 SANOFI AVENTIS $11,488 France

479 SCHLUMBERGER $11,473 Netherlands

480 WIENER STADTWERKE HOLDING $11,274 Austria

481 ALLIANT ENERGY $11,235 United States

482 CRESCENT POINT ENERGY $11,171 Canada

483 IBM $11,116 United States

484 CPMC $11,101 Chile

485 JAPAN NUCLEAR FUEL $11,097 Japan

486 STEEL AUTHORITY OF INDIA $11,024 India

487 BAOTOU STEEL $11,012 China

488 AENA DPTO. DE PUBLICACIONES $10,958 Spain

489 CHINA HUANENG $10,954 China

490 STICHTING DE ALLIANTIE $10,918 Netherlands

491 SOUTH CAROLINA ELECTRIC & GAS $10,708 United States

492 YORKSHIRE WATER SERVICES $10,692 United Kingdom

493 CHESAPEAKE ENERGY $10,664 United States

494 SAUDI TELECOM $10,651 Saudi Arabia

495 REDESA $10,491 Spain

496 HYUNDAI HEAVY INDUSTRIES $10,319 South Korea

497 CVS CAREMARK $10,292 United States

498 ARCHER DANIELS MIDLAND $10,138 United States

499 HINDALCO INDUSTRIES $10,081 India

500 PUGET SOUND ENERGY $10,009 United States

Disclaimer: These rankings are based on information available to us concerning the tangible fixed assets of each entity. They incorporate discretionary judgments and are necessarily inexact for a number of reasons, including that information publicly available may not be up to date, information is not equally available concerning every entity, values must be converted from different currencies, and in some cases estimated non-infrastructure values must be deducted from overall asset figures to approximate the value of tangible fixed assets. Bentley Systems, Incorporated expressly disclaims all representations and warranties as to the accuracy of the information or its suitability for any purpose. Please visit www.bentley.com/BI500 if you wish to provide new or updated information about your organization for consideration in the 2019 edition of the Bentley Infrastructure 500.

WWW.BENTLEY.COM 13

Top Owners by Country

United States, 179, 46%

Japan, 42, 11%

China, 39, 10%

Canada, 26, 7%

United Kingdom, 25, 7%

France, 20, 5%

Germany, 16, 4%

Australia, 15, 4%

Netherlands, 13, 3%South Korea, 11, 3%

Infrastructure Value by Country (USD Millions)

United States, $6,035,874

China, $1,443,107

Japan, $1,217,838

United Kingdom, $868,955

Canada, $842,139

France, $744,604

Russia, $605,541

Australia, $587,321

Netherlands, $546,818

Germany, $498,098

Top Owners by Sector

Private71%

Public29%

Infrastructure Value by Sector (USD Millions)

Private67%

Public33%

Top Owners by Infrastructure Type

48%

37%

15%

51%39%

10%

Infrastructure Value by Infrastructure Type

Public Works/Utilities

Industrial/Natural Resources

Commercial/Facilities

© 2018 Bentley Systems, Incorporated

ABOUT THE BENTLEY INFRASTRUCTURE 500 Additional footnotes:• Data sources for this ranking include financial

statements and third-party data providers.

• All values have been translated into U.S. dollars (millions).

• Majority-owned subsidiaries with parents already in the rankings have been excluded (unless explicitly reporting separate financials).

The Bentley Infrastructure 500 is updated annually. Please visit www.bentley.com/BI500 if you wish to provide new or updated information about your organization for consideration in the 2019 edition of the Bentley Infrastructure 500.

The Bentley Infrastructure 500 ranks owners according to

their reported tangible fixed assets (or other comparable

noncurrent physical assets such as buildings or fixed

structures, land, and machinery). Included in the rankings

are public- and private-sector entities with financials

reported in the past three years (to allow flexibility in varying

reporting schedules). The values presented are assessed

net of depreciation and amortization and calculated to

exclude, where data is available, assets not representative of

infrastructure, such as equipment, furniture, and software.

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