Artesp, the Sao Paulo State Transport Agency, has signed a massive highway concession contract with Eixo SP, a special purpose vehicle owned by Singapore’s GIC and Brazil’s Patria Investments, according to InfraPPP.
The winning consortium has signed on to upgrade 1,273 kilometers (791 miles) of highways in what is known as the Piracicaba-Panorama road project (PiPa lot), the largest road network ever tendered in Brazil. The extension covers 12 highways, passing through 62 municipalities in the state of Sao Paulo.
The modernization plan also includes the construction of new lanes and marginal roads, shoulder roads, new accesses and returns, and pavement recovery.
The winning consortium is expected to invest $2.39 billion and will generate 7,000 new jobs in the first two years of the contract. The concession contract will be in effect for a period of 30 years.
