Itapetininga Toll Road (Spvias)

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SP Vias - Rodovias Integradas do Oeste, a joint-venture of Planova (66.5%) and Construtora Varca (33.5%), was awarded the contract to expand, rehabilitate and operate the Itapetininga highway. The bidding process was competitive and the award criteria was the highest cannon fee to be paid to the government. There is no provision for contract renewal (assets will be returned to the state government). In 2010, Companhia de Concessoes Rodoviarias (CCR)acquired 100% ownership of this concession. A total of US$ 270.8 million will be invested in infrastructure during the 20-year concession period. Commercial operation started in February 2000. The highway has 516 km in extension. As of December 2003, Planova had decreased its participation in the project company to 54.99%. The other main shareholders, with 14.59% of the shares, were Multivias Planejamento SA and Latinoamericana de Rodovias SA. The remaining shares are held by several sponsors. In March 2003, the project company was granted a US$ 43.8 million ()BRL 134,8 million loan from BNDES and Caixa Economica to finance its investments. http://www.spvias.com.br/