CAF, the development bank of Latin America, and its subsidiary CAF-AM Administradora de Activos Uruguay SA have signed the agreement to finance the Road Circuit Project No.2 in Uruguay.

The project involves the design, construction, operation and financing of sections of national routes 9 and 15. Located to the southeast of the department of Rocha, Road Circuit No.2 spans ​​192 kilometers providing a connection between Uruguay and Brazil on the border of the city of Chuy.

Hernández & González SA and Traxpalco SA were awarded the 20-year concession by the Ministry of Transport and Public Works (MTOP). CAF is financing the construction phase for the project with a contribution of US$130 million, which is being raised by capital contributions from shareholders and senior debt in Indexed Units valued at US$6.5 million.