EcoRodovias adds another toll road concession

EcoRodovias adds another toll road concession

Corporate & Sovereign Strategy Equity Brazil Capital Markets

Brazilian infrastructure group EcoRodovias won the 30-year concession for a 720km highway between the city of Rio de Janeiro and Governador Valadares in Minas Gerais at an auction on Friday. EcoRodovias was the only bidder and offered a 3.11% discount on toll charges. It is expected to spend BRL11.3 billion ($2.32 billion) on construction and BRL9.8 billion on operations over the length of the contract, according to rules set by the infrastructure ministry. "This is an asset that is already oper

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