ProInversión, Colombian consortium sign US$31mn highway concession contract

Monday, February 23, 2009

Peru's state agency for the promotion of private investment ProInversión and Colombian consortium Consorcio Concesión Chancay-Acos have signed a US$31mn highway concession contract, ProInversión reported in a release.

The consortium was awarded the concession to build and operate the Ovalo Chancay-Acos highway for 15 years after submitting a US$31mn offer to build the highway and a US$2mn bid for annual maintenance works.

The Peruvian state will invest US$31mn to build the road, while the US$2mn in maintenance costs will be covered by toll revenues. If tolls are insufficient to cover these costs, the state will respond with the difference, Infracon general manager Carlos Vergara told BNamericas.

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The 76.5km highway will connect districts Chancay, Huaral, Aucallama, Ihuari, Atavillos Bajo, Lampian and San Miguel de Acos, in capital Lima's northern Huaral province and is expected to be built by 2H10.

The project will benefit 154,281 inhabitants and the area's agriculture industry, and will have a positive impact on the local economy by improving the transport of produce and generating jobs, said ProInversión's executive director, Cayetana Aljovín.

The initiative is also expected to benefit the tourism industry.

Consorcio Concesión Chancay-Acos is comprised of investment holding Infracon and construction firm Conalvías, both belonging to the same group, Vergara said.

The firm already has 10 concessions operating in Colombia and the Peruvian concession contract marks the start of Conalvías' international expansion, Vergara added.