Consorcio Vial Honduras

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In December 2011, the joint venture Consorcio Vial Latinoamericano, comprised of the Equatorian company Hidalgo e Hidalgo and the Peruvian company Construcción y Administracion S.A., won in a competitive bidding the right to expand, rehabilitate and operate the 391 km of highways connecting the muncipalities of Goascoran – Villa de San Antonio, and Tegucigalpa – Puerto Cortes located in Honduras. The project was named Corridor Logistico El Progreso. The bidding criteria was the best technical and economical proposal. Besides Canal Seco de Honduras, thirteen other companies made public offers for the project (among others the following companies took part in the bidding process: Consultores en Ingenieria SA from Honduras (CINSA), Asociacion de Profesionales de Honduras S.A (ASP), Gabinete Tecnico S.A (GATESA) and Helios Corporacion de Peru). The sponsors created the In December 2011, the joint venture Consorcio Vial Latinoamericano, comprised of the Peruvian company Hidalgo e Hidalgo and the Equatorian company Construcción y Administracion S.A., won in a competitive bidding the right to expand, rehabilitate and operate the 391 km of highways connecting the muncipalities of Goascoran – Villa de San Antonio, and Tegucigalpa – Puerto Cortes located in Honduras. The project was named Corridor Logistico El Progreso. The bidding criteria was the best technical and economical proposal. Besides Canal Seco de Honduras, thirteen other companies made public offers for the project (among others the following companies took part in the bidding process: Consultores en Ingenieria SA from Honduras (CINSA), Asociacion de Profesionales de Honduras S.A (ASP), Gabinete Tecnico S.A (GATESA) and Helios Corporacion de Peru). The sponsors created the Consorcio Vial Honduras (COVI Honduras) to lead the project. The 20-year concession contract was signed in March 2012. The investment was estimated at US$ 375 million over the life of the project. Operations commenced in June 2013. In October 2014, the sponsors were granted a US$ 120 million loan from Banco Fichosa of Honduras and Panama’s Metrobank.