Vale do Tiete Toll Road

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Rodovia das Colinas, a joint-venture of Civilia Engenharia (90%) and Construtora Sao Luiz (10%), was awarded the contract to expand, rehabilitate and operate the Vale do Tiete highway. The bidding process was competitive and the award criteria was the highest cannon fee to be paid to the government. There is no provision for contract renewal (assets will be returned to the state government). A total of US$ 406.1 million will be invested in infrastructure during the 20-year concession period. Commercial operation started in March 2000. The highway has 299 Km in extension. As of December 2003, Rodovia das Colinas was controlled by Empate Engenharia e Comércio Ltda (50.01%) and Herber Participações Ltda (49.99%). In 2004, the project company was granted a US$ 64.2 million (BRL 188 million) loan from BNDES and Caixa Economica to finance the construction works. http://www.rodoviasdascolinas.com.br/conheca_02.php The investments undertaken by Rodovia das Colinas , year by year were: 2001 - US$ 6.2 million (R$ 14 million ) 2002 – US$ 11.5 million (R$ 40.7 million) For the 2005-2006 period, Colinas planned on investing R$161 million.