Rodovia dos Tamoios

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In October 2014, Consorcio Litoral Norte, led by the Brazilian construction company Queiroz Galvao, won in a competitive bidding the right to expand, rehabilitate and operate the 199-km of the highway Rodovia dos Tamoios (SP-99), state of Sao Paulo. The bidding criteria was the lowest government funding for the project, and Consorcio Litoral Norte bid was 39.63% below the ceiling set by the state government (in addition to this transfer from the government, toll rates were defined to contribute to the private sponsors revenues). Three other groups took part in the bidding process: Consorcio Via Nova Tamoios, led by EcoRodovias; Consorcio Desenvolvimento Nova Tamoios, led by J&F Investimentos; and Consorcio Novos Caminhos, led by Galvao Engenharia. The 30-year concession contract was signed in December 2014. The sponsors created the company Rodovia dos Tamoios S.A. to lead the project, and operations commenced in early 2015. The investment was estimated at US$ 1659.1 million (BRL 3.9 billion) over the life of the project. The PPP project envisaged the investment from the government amounting to US$ 936 million (BRL 2.2 billion).