CCR settles corruption charges

CCR settles corruption charges

Economy & Policy Project & Infrastructure Finance Regulation Brazil

Brazil's CCR has signed a BRL750m ($195m) agreement with federal prosecutors to settle corruption charges related to the RodoNorte toll road concession in Paraná. As part of the agreement, CCR will pay a BRL35m fine and spend BRL365m on improvements to the highway. It will also lower tolls by 30% for at least 12 months, resulting in BRL350m in lost revenues, the public prosecutors' office MPF said in a statement. CCR has admitted that it paid bribes to make changes to the concession contract sin

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