CCR won the BR-101/SC 30-years highway concession by offering a 62.04% discount over the maximum toll rate of BRL 5.19.
The concessionaire offered a BRL 1.97 toll tariff at a 21 February auction held at B3 stock exchange, São Paulo. Competitors Ecorodovias and the consortium Way 101 offered BRL 2.51 (51% discount) and BRL 4.35 (16% discount), respectively.
Eduardo Camargo, head of CCR´s division for federal concessions, dismissed comments calling theirs an ‘aggressive’ bid. At a press conference, he said that CCR had studied the project for over a year and the synergies the concessionaire has in the region support their position.
“It was a responsible bid. We have many synergies with Via Sul and our traffic projections consider that the region grows with a different elasticity from the rest of the country,” Camargo explained.
Mundinvest acted as a broker to CCR in the auction.
The concessionaire will have to invest BRL 7.3bn (USD 1.69bn) in capex and opex to operate the 220.4 km highway.
About BRL 1bn will be invested in the first year of concession, before the building of four toll plazas. Camargo said that CCR won’t need to raise resources for the initial disbursements, but the plan is to finance the project through the local capital markets in 2020.