Tepic-Villa Union Highway

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In February 2005, the Mexican Secretary of Communications and Transport (SCT) awarded a 30-year concession contract to expand, rehabilitate, operate, and maintain a two lane, 237.7 km toll road between the Nayarit and Sinaloa states to Promotora Inbursa SA de CV. The Tepic-Villa Union highway was part of Mexico-Nogales central corridor, whose construction would be finished with Tepic-Villa Union highway. The 30-year contract included different highway sections: 88.4 km length already operational, 18.6 km under construction, and 130.9 km to be built between Yago station in Nayarit, and Escuinapa in Sinaloa state. The highway was designed to reduce by 1 hour and 20 minutes the commute between Tepic and Villa Union, benefiting over 1 million people. STC granted the contract through a public tender in which the bidding criteria was the highest payment to the government for the concession rights. Promotora Inbursa, also known as Concesionaria de Carreteras, Autopistas y Libramientos de la Republica Mexicana, won the tender by offering US$144 million (1,612 million pesos) was almost three times higher than the next closest offer US$48.2 (540 million pesos). Three other companies presented bids: ICA SA de CV, La Peninsular, and Obrascon, Huarte, Lain (OHL). The concession contract was signed in May 2005 after Promotora Inbursa paid the US$144 million offered Fideicomiso de Infraestructura (FINFRA), a trust fund of Mexico’s National Bank of Public Works and Services (Banobras). With the signature of the concession contract, Promotora Inbursa took over the operation of Tepic-Villa Union Highway. In addition to the government payment of US$144 million (1,612 million pesos), Promotora Inbursa was expected to invest US$201.5 million (2,556 million pesos) to build 130.9 km to be built between Yago station in Nayarit, and Escuinapa in Sinaloa state, and finish construction of the additional 18.6 km. Construction period was planned to start in November 2006, and last for eighteen months. Construction works were concluded in March 2008. http://portal.sct.gob.mx/SctPortal/appmanager/Portal/Sct?_nfpb=true&_pageLabel=B20045