Transolimpica

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In April 2012, the consortium Rio Olimpico, comprised of the Brazilian companies Invepar, Odebrecht Transporte and CCR (each with 33.3% of the shares), won in a competitive bidding the right to build and operate the 13 km of expressway connecting the neighborhoods of Deodoro and Barra da Tijuca at the city of Rio de Janeiro. The bidding criteria was the lowest payment to undertake the project, and Planalto offered to pay US$ 24.5 million (BRL 57.7 million) to the municipality. Two other groups took part in the bidding process: Queiroz Galvao; and Encalso and Delta. The 35-year PPP contract was signed in April 2012 with the municipality government. The investment was estimated at US$ 658.5 million (BRL 1.55 billion) over the life of the project. Of this value, the municipality committed to invest US$ 470.3 million (BRL 1.107 billion). In January 2013, the sponsors signed an equity support agreement to guarantee a loan undertaken to implement the project (the loan was granted by Banco do Brasil and BTG Pactual). In May 2013, the sponsors issued bonds worth US$ 80.7 million (BRL 190 million). The sponsors created the company Concessionária ViaRio S.A. to lead the project. Construction works commenced in February 2013 and were underway as of December 2013.