Rio de Janeiro-Niteroi Bridge

Concluded

This 13Km bridge links the city of Rio de Janeiro and Niteroi and has capacity of 110,000 vehicles. In 1994, the concession was granted to Concessionaria da Ponte Rio-Niteroi SA (Ponte), which was controlled by a consortium comprising Andrade Gutierrez (50%) and Camargo Correa (50%). Ponte will repair, maintain and operate the bridge for 20 years. The total investment is estimated in US$ 82.8 million (R$ 76 million); of this amount, US$ 32.1 million (R$ 35 million) has already been invested by 1998. The BNDES (Brazilian state owned development bank) has provided US$ 38 million as loan. In 1998, 100% of the total capital of Ponte was transfered to Companhia de Concessoes Rodoviarias (CCR), a newly created holding company that would hold a number of toll-road concessions. CCR was controlled by Andrade Gutierrez, Camargo Correa, Odebretch, Serveng-Civilsan, and Servix and Via Engenharia (SVE). In 2001, Brisa Autoestradas de Portugal SA purchased a 20% stake in CCR, becoming the controller of Ponte. In 2003, both Odebretch and SVE sold their stakes in CCR (16.89% and 5.13% respectively) to stakeholders. As of December 2003, CCr was controlled by Brisa (21.27%), Andrade Gutierrez (20.69%), Camargo Correa (21.27%) and Serveng-Civilsan (21.27%). The remaining stake was traded in stock markets. The investments undertaken by Ponte S.A., year by year were: 1996 – US$ 20.2 million (R$ 21 million) 1997 – US$ 7.3 million (R$ 8.2 million) 1998 – US$ 6.3 million (R$ 7.6 million) 1999 – US$ 3.9 million (R$ 7.1 million) 2000 – US$ 10.5 million (R$ 20.5 million) 2001 - US$ 5 million (R$ 11.1 million ) 2002 – US$ 3.8 million (R$ 13.4 million) 2003 - US$ 2.3 million (R$ 7.1 million)