Campinas - Casa Branca Toll Road

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The project includes the expansion of an existing 38 km road and construction of new 129 km roads. The project company ownership is divided as follows: Encalso holds 60% of the shares; S.A. Paulista and Senpar hold 20% each. The bidding process was competitive and the award criteria was the highest cannon fee to be paid to the government. There was no provision for contract renewal (assets will be returned to the state government). The total project cost has been estimated at US$ 344.9 million: US$ 250 million as infrastructure investment and US$ 94.9 million as lease fee to be paid in monthly installments during the concession period (in order to calculate the real value of the lease fee, a discount rate of 12.68% was used; this government has used this rate in other infrastructure sectors). The toll road started its operation in 1998 and the toll rates are already being charged. In Mar. 1999, the state-owned bank BNDES approved a US$ 44.4 million loan to the project. In 2004 the consortium assumed operations of an additional highway stretch - Sao Paolo's SP-342. The 54.5km stretch runs from the municipalities of Mogi Guaçu, Espírito Santo do Pinhal, and Sao Joao da Boa Vista. The consortium committed to invest US$24.5 milloin on expansion and improvement of the additional stretch. In December 2011, the state-owned bank BNDES approved a US$ 79.7 million (BRL 130 million) loan to finance the infrastructure works. January 2008 Brazil's largest highway concessionaire operator CCR is to purchase 40% of Renovias, also a highway concessionaire, for 265mn reais (US$149mn), CCR told the São Paulo stock exchange Bovespa.