SAO PAULO Dec 27 Brazilian toll road operator
Invepar on Friday won the rights to upgrade and operate a
stretch of a highway linking the capital Brasilia to the port of
Rio de Janeiro in the country's most fiercely contested road
auction this year.
The highway auctioned is a 937-kilometer (582-mile) stretch
of Brazil's BR-040 highway between the federal district of
Brasilia and Juiz de Fora on the border of Minas Gerais and Rio
de Janeiro states.
Invepar is expected to invest 7.4 billion reais ($3.2
billion) in BR-040 over the next 30 years.
Invepar, controlled by state-run pension funds Petros and
Funcef, industrial conglomerate OAS and an investment fund run
by state-controlled lender Banco do Brasil SA, won
the auction by offering to charge 61 percent less than the
maximum toll allowed by the government.
With the discount, the biggest of any highway auction this
year, Invepar beat seven other groups angling for the fifth such
concession of 2013. The increasingly crowded field has bolstered
hopes for a government program to overhaul crumbling
infrastructure that is gaining steam after early skepticism from
The concession is part of a plan to upgrade 5,176 kilometers
(3,216 miles) of mostly two-lane highways into four-lane divided
highways within five years. The plan, which includes both public
and private initiatives, aims to attract 27 billion reais ($11.4
billion) in investments over five years.
President Dilma Rousseff hopes to bolster a fragile economic
recovery with new investment, construction jobs and logistical
improvements by privatizing roads, railways, ports and airports.
Fifty percent of Invepar is held between Petros, the
employee pension fund for state-run oil company Petroleo
Brasileiro SA, and Funcef, the pension fund of Caixa
Economica Federal, a state-owned discount lender.