Additional investment agreed for MG-050 PPP project
Brazillian state of Minas Gerais, through the Secretary of State for Transport and Public Works (SETOP), signed in early July an addendum to the Public-Private Partnership contract of the MG-050, the first PPP road contract signed in Brazil (21 July 2007).
The concessionaire and the administration have agreed on new investments valued at R$524 million (US$235 million) to improve road conditions in several points of the road. The works are scheduled to begin in 2013-2014.
Road in BrazilR$269 million (US$120.5 million) will be invested by the State of Minas Gerais:
- R$200 million (US$89.6 million) for the duplication of the 35 km Divinópolis - Juatuba connection and
- R$69 million (US$31 million) for the improvement and capacity expansion in the municipalities of Passos, Itaú de Minas and São Sebastião do Paraíso
The Concessionaire will invest R$255 million (US$114 million). PPP Brasil said that the full content of the addendum is not available on MG PPP Unit's website yet.
The concessionaire 'Concessionária Nascentes das Gerais' is a subsidiary of AB Concessões S/A, a joint venture between Atlantia and Bertin Gorup. AB Concessões also owns Triângulo do Sol (100%), Rodovias das Colinas (100%) and Rodovias do Tiête (50%), all in São Paulo state.
AB Concessões is the fourth biggest road concessionaire in Brazil.
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