CCR, the Brazil-based infrastructure concessions group, has announced the agreement to acquire whole stake of Odebrecht's shares in ViaRio, the project company running the development of the port area light rail PPP in Rio de Janeiro. The transaction value is expected to reach BRL107.7 million (US$33 million). 

ViaRio is the special purpose vehicle (SPV) responsible for the design, building, financing, operation and maintenance (DBFOM) of the new LTR for a 25-years period. It includes the development of a 27.5 km system composed of 3 lines and 32 stops that will connect the downtown district to Porto Maravilha. The first line of the system opened in June 2016 ahead of the 2016 Olympic Games.

In June 2013, we reported that the consortium composed by Actua - CCR (24,4375%), Invepar (24,4375%), OTP - Odebrecht Transportes (24,4375%), Riopar Participações, (partner of Grupo CCR in CCR Barcas) (24,4375%), Benito Roggio Transporte (2%) and RATP do Brasil Operações(0,25%) signed the Rio de Janeiro light train PPP contract.

As we also reported, in August 2015, the Brazilian Development Bank (BNDES) approved a BRL$747 million (US$213.1 million) loan for the project. The total project investment was estimated at BRL1.77 billion (US$540 million). The federal government would provide BRL500 million (US$153 million) for the project.