Brita Rodovias Toll Road

concluded

The 110.37 km highway system will be rehabilitated and operated by Brita Rodovias for a 15-year period. The project company ownership is divided as follows: Brita Participacoes holds 80.5% of the shares; Valentim Machado holds 13.5% and STE holds 6%. The bidding process was competitive and the award criteria was the quantity of km of highways to be rehabilitated by the sponsors. The total investment on the project is estimated at US$ 16 million (R$ 28 million); as of 6/98, US$ 6 million has been invested. Financing for the project has been achieved with a US$ 5.5 million loan from the Brazilian state-owned development bank (BNDES) and with the sponsors' own resources. At the end of the contract in 2013, the toll road was transferred to a state-owned company that became responsible for its operation. The investments undertaken by Brita Rodovias, year by year were: 1999 – US$ 0.3 million (R$ 0.6 million) 2000 – US$ 0.8 million (R$ 1.5 million) 2001 - US$ 0.7 million (R$ 1.5 million ) 2002 – US$ 0.4 million (R$ 1.4 million)