Bolivia's national highway commission (SNC) has awarded the Odebrecht-Iasa consortium a contract to build and pave the 108km El Carmen-Arroyo Concepción highway, government news agency ABI reported.
The consortium picked up the turnkey contract after submitting a bid of US$93.7mn.
Banco do Brasil will finance the works that are expected to take two years. Once complete, Odebrecht-Iasa will have to maintain the highway for five years.
El Carmen-Arroyo Concepción is part of the Santa Cruz-Puerto Suárez highway, which falls under Bolivia's bi-oceanic highway initiative to connect with Brazil.