Brazil’s Terrestrial Transportation Regulatory Agency (ANTT) has signed the contract for the BR-153 highway concession.
Consórcio Eco153, a team made up of EcoRodovias and GLP, was selected as the preferred bidder in April this year.
Under the 35-year contract, the consortium will recover, expand, maintain and operate over 850km of highway that links together the Mid-North of Brazil and its Center-South.
Under the new “hybrid” model of deciding the winning bidder, the consortium had offered an upfront fee of around $250m, and is expected to invest around $1.4bn into the project.
“The success of the auction that results in the signing of the contract shows that we are on the right path,” said the Planning and Logistics Company’s chief executive Arthur Lima.
“We will have other important highways that will be auctioned with this same model that brings the security of cheaper rates for users and the guarantee that the concessionaire will make the necessary investments in infrastructure.”
PSPInfra, a partnership between the Inter-American Development Bank (IDB), the Brazilian Development Bank (BNDES), and the International Finance Corporation (IFC), advised the public sector on the deal.