MGO Rodovias

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In September 2013, the consortium Planalto, comprised of the Brazilian companies SENPAR LTDA, CONSTRUTORA ESTRUTURAL LTDA, CONSTRUTORA KAMILOS LTDA, ELLENCO CONSTRUCOES LTDA, ENGENHARIA E COMERCIO BANDEIRANTES LTDA, GRECA DISTRIBUIDORA DE ASFALTOS LTDA, MAQTERRA TRANSPORTES E TERRAPLENAGEM LTDA, TCL TECNOLOGIA E CONSTRUCOES LTDA e VALE DO RIO NOVO ENGENHARIA E CONSTRUCOES LTDA, won in a competitive bidding the right to expand, rehabilitate and operate the 436.6 km of highway BR-050 located at the states of Goias and Minas Gerais. The bidding criteria was the lowest tariff, and Planalto offered toll rates that were 42.38% below the ceiling set by the state government. Seven other groups took part in the bidding process: consortium Triunfo Participacoes; Verdemar; Rodovia do Sertao; Queiroz Galvao; Invepar-Odebrecht Transporte; Companhia de Participacoes em Concessoes; and Consorcio Arteris. The 30-year concession contract was signed in December 2012. The investment was estimated at US$ 1.275 billion (BRL 3 billion) over the life of the project. In addition, the sponsors agreed to pay US$ 148.7 million (BRL 350 million) for the concession rights. The sponsors created the company MGO Rodovias to lead the project. Operations commenced in January 2014. In June 2014, the state-owned bank BNDES approved a US$ 40.8 million (BRL 95.8 million) loan to the project. In December 2015, BNDES approved an additional funding of US$ 165.7 million (BRL 552.7 million).