9 de Julio Highway

cancelled

The project includes the construction of a new road linking Avenida 9 de Julio and Avenida General Paz. Covimet's ownership structure is divided as follows: J.M. Aragon, Benito Roggio, Francisco Natino and Hemarsa hold 16.23% each; Polledo holds 15.58%, Servente holds 14.26%; and Semaco holds 5.25%. The estimated daily average flow is 104,000 vehicles (the actual flow, as of May 1999, has been 60,000 vehicles daily). As of Mar. 1999, construction works were still underway on a section of the highway, but the main toll road was already in operation and tolls are being charged. It is expected that all works were to be finalized by 2001. The Buenos Aires city government canceled the contract in February 2003 after claiming that the consortium did not deliver on pledged works. The consortium appealed the decision in an Argentina appeals court, claiming that the consortium never received prior accusation from the government regarding contractual noncompliance, but their injunction was rejected in June 2003. The Buenos Aires government company Autopistas Urbanas SA (AUSA) assumed control of the concession. The government issued control of the concession to AUSA for a period of five years. None None