Convias Toll Road

concluded

The project includes the rehabilitation and operation of 173.75 km of highways. The project company is wholly owned by Univias, whose ownership structure is divided as follows: Brasilia and Toniolo Busnello hold 24.52% of the shares each; Castilho holds 24.49%; and Pedrasul holds 26.47%. The concession process was based on competitive bidding based on the criteria of the quantity of KM the concessionaire would improve above the minimum required. The initial rehabilitation works have finished and the project company is already charging the toll rates. The total investment cost is estimated at US$ 107.9 million. In November 1998, the state-owned bank BNDES approved a US$ 31 million loan to Univias, which will invest the funds on the projects undertaken by its subsidiaries Sulvias, Metrovias and Convias. In 2006, the ownership structure was restructured. The project company shares were transfered to Consorcio Univias, whose shareholders were: Toniolo Busnello with 25% and CIBE Participacoes (which resulted from the association of the groups Bertin and Equipav) with 75%. 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 Convias year by year, were 1998 - 2000 - R$ 24.3 million - assumed to be distributed uniformly during those three years: R$8.1) 2001 – US$ 2.1 million (R$ 4.7 million) 2002 – US$ 1.5 million (R$ 5.3 million) 2003 - US$ 4.06 (R$ 12.2 million)