Callao Expressway

Cancelled

Convial Callao was awarded the contract to build and operate the Callao Expressway. The company is controlled by CCI Concesiones Peru, a subsidiary of the Argentine company CCI Concesiones y Construcciones de Infrastructure (JM Aragon and Servente holds 87.8% of CCI's shares). The Callao expressway will link the cities of Lima and Callao. Convial Callao will invest a total of US$ 45.6 million in the construction works. Toll rates will be charged for the use of some of the high speed lanes, but one lane will be toll free. The concession period will last 30 years. The expressway will provide a time saving of 10 to 20 minutes. Although the contract was awarded in late 1999, the political instability delayed the signing of the contract until Feb. 2001. Construction works started in Mar. 2001 and should be completed by 2003. The project is being financed with the sponsors own resources. In November 2007, upon recommendation from Peru's legislature, the project was canceled by Callao's provincial government due to the state's lack of authority to award the concession and irregularities in the bidding process. None None