Autopistas de Michoacan

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In December 2011, the consortium I Quadrado, a partnership of the Mexican company Pinfra, the Spanish group Azvi and the Mexican companies Infraestructura Institucional FI and Sociedad Michoacana de Constructores (each with a 25% stake), won in a competitive bidding the right to expand, rehabilitate and operate the 362 km of highways Libramientos de Morelia and Uruapan and the highway Patzcuaro - Uruapan - Lazaro Cárdenas located in Mexico (state of Michoacan). The project was also known as Autopista del Siglo XXI. The bidding criteria was the highest price paid for the right to develop the project. Besides I Quadrado, no other company presented offers. The winning bid was US$ 58.9 million (Pesos 752 million). The sponsor created the company Operadora de Autopistas de Michoacan S.A. de C.V. to lead the project. The 30-year concession contract was signed in March 2012. The investment was estimated at US$ 861.7 million (Pesos 11000 million) over the life of the project. Operations commenced in April 2012.