Via Appia FIP Infraestrutura (Via Appia), a group that includes the alternative investment management firm Starboard, has won the auction for the Northern section of the Rodoanel Mário Covas highway​ public-private partnership (PPP) Concession.

Via Appia's bid included a 100% discount on the São Paulo government's annual payments to the concessionaire, as well as a 23.1 percent reduction in the public contribution for the completion of construction works. The total amount of public investment in the project is BRL1.097 billion (US$209 million).  The project was also fought for by Consórcio Infraestrutura SP, owned by Equipav, which offered a 100% rebate on remuneration and a 5.11% rebate on the public fee. XP also took part through the consortium SP Flow (XP INFRA IV), which offered a discount of 60.03% of the contract value, and the Spanish group Acciona, which offered a discount of 12.9% of the contract value. Via Appia is due to complete the construction work on the northern part of Rodoanel, which has not been carried out for about 5 years and will operate the site for 31 years. The contract provides for an investment of BRL3.4 billion (US$648 million).

The 44 km northern section is the last phase of the Rodoanel Mário Covas highway. The scope of works includes the construction of new lanes with shoulders, 14 tunnels, 61 bridges/viaducts, four stops for special loads, two rest areas for truck drivers, two user service areas, two Posts General Inspection (PGF), 30 monitoring cameras, in addition to operational vehicles (ambulances, tow trucks, water truck and traffic inspection) to serve the entire stretch.