Praia do Paiva Bridge

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The new 320-meter long bridge links the capital of the state of PE, Recife, to the tourist area of Jaboatao. Via Parque was the concessionaire that won the bidding process in December 2006 by offering the lowest government revenue guaranteeabove the minimum set by the economic feasibiability(BRL 44.128 million). The other bidders were the Brazilian construction companies Andrade Gutierrez and OAS, with a BRL 45 million offer; and the Brazilian construction companies Camargo Correa and Queiroz Galvao, with a BRL 44.7 million offer. The contract was signed in December 2006 and was structured under the new PPP legislation. Via Parque S.A., a special purpose company under the control of Odebrecht (75%), throught its subsidiary Odebrecht TransPort, and Grupo Cornelio Brennand (25%), committed to invest US$ 39.2 million (BRL 76.5 million) in constructing the new bridge and US$ 34.2 million (BRL 66.7 million) in maintaining the facility over the 33-year concession period. Construction works commenced in December 2007 and financing was partly provided by a loan from Banco do Nordeste do Brasil (loan of BRL 52.9 million). The construction works were concluded in the end of 2009, when the toll rates started being charged. Source of information: sponsors, concession contract, state government website, news media