STXNEWS LATAM-Brazil's Arteris to forego bids for upcoming road auctions
Arteris SA, a toll road operator in Brazil, plans not to place bids for the upcoming two road auctions before the end of the year, Investor Relations Director Alessandro Levy said at an event in São Paulo. Arteris has foregone bidding for a recent round of toll road auctions, partly to stick to a policy of budget and capital spending discipline.
Yet, the company is expected to invest in 2014 more than the 1.3 billion reais ($563 million) it pledged for capital spending this year, Levy said. Car traffic on its toll roads is likely to expand at a faster pace than growth in Brazil's gross domestic product, the executive added.
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