Codacsa

cancelled

Concesionaria Dominicana de Autopistas y Carreteras (Codacsa), a joint-venture of Sacyr (36.5%), Elsamex (24.9%), Intropolis (13.5%), Consorcio Eco-Energetico (10%; four national financial institutions), Mera, Munoz & Fondeur (10%) and Sercitec (5%), was awarded the contract to expand, rehabilitate and operate four major roadways. A total of US$ 148.9 million will be invested in infrastructure during the 30-year concession period. The highway has 142 km in extension. In 2000, the IFC approved a US$ 61.6 million financing package for the project: US$ 25 million in direct loans, US$ 1.6 million in equity and US$ 35 million in syndication. However, as of 2002, no funds had been committed. Construction works should commence in the second half of 2001. In August 2012, the government unilaterally cancelled the concession and took over the assets of Codacsa. The government blamed the concessionaire for not undertaking the commitments established in the concession contract.