The Brazilian transport agency has selected a winning bidder for the $3.4 billion Piracicaba-Panoram road concession project in Sao Paulo, according to InfraPPP.
The winning consortium, formed by Patria Investments and GIC sovereign wealth fund, outbid its competitor Ecorodovias by a substantial margin, doubling up on the latter’s $128 million offer with a $268 million bid.
The Patria/GIC consortium will be tasked with the modernization, expansion, operation, maintenance, and implementation of the road project that stretches between the cities of Piracicaba and Panorama.
The project will consist of 1,273 kilometers (791 miles) of runways, as well as building additional lanes, shoulders, new access points, pavement recovery, walkways and bike paths among other works. The concessionaire will also equip the roads with dedicated Wi-Fi throughout.
The project has been called the largest concession in Brazil for 30 years and will be the first zero carbon high