Coviplan Toll Road

concluded

The project includes the rehabilitation and operation of the highways for a 15-year period. The bidding process was competitive and the award criteria was the quantity of km of highways to be rehabilitated by the sponsors. Four toll booths will be installed and tolls will be charged in one direction. The estimated traffic flow is 2,800 vehicles per day on each toll station. The project company ownership structure is divided as follows: Bolognesi holds 51% of the shares, MEP holds 24.5% and Polledo, a subsidiary of Benito Roggio e Hijos (Argentina), also holds 24.5%. The sponsors will invest US$ 57 million over the life of the project; the initial rehabilitation works have been concluded and toll rates are already being charged. At the end of the contract in 2013, the toll road was transferred to a state-owned company that became responsible for its operation.