IDB Invest to Improve Connectivity and Productivity in Uruguay through Road Concourse 6
IDB Invest is providing a $46 million loan to Circuito 6 Cuchilla Grande S.A., a specific purpose corporation incorporated under the laws of Uruguay to design, construct, rehabilitate, operate and maintain a 78 km stretch (Montevideo-San Ramon) of Route 6 connecting with the Brazilian border. This route crosses the departments of Montevideo, Canelones and Florida. The 18-year financing deal will be completed with the participation of local and international co-financing banks and by the sponsor’s own capital.
The project is the seventh of seven public-private participation (PPP) initiatives driven by the Ministry of Transport and Public Work to improve connectivity and productivity in country as well as safety for road users. Moreover, this PPP will promote integration of the south-east region not only internally but also internationally. The implementation involves a 20-year concession contract and a construction period of approx. 36 months.
The Project's works include widening and restoring existing pavement structures, widening and restoring the intersections with other routes, secondary roads, and accesses to the main route, expanding the road between Belloni and Route 74 to a two-way street, building bicycle lanes, refurbishing and/or building bridges and storm drains, installing lighting and signage and metal guardrails, and constructing a bypass to the city of San Ramon.
This transaction potentially contributes to three of the United Nations Sustainable Development Goals (SDGs): Good Health and Well-Being (SDG 3), Decent Work and Economic Growth (SDG 8) and Industry, Innovation and Infrastructure (SDG 9).
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $13.1 billion in asset management and 385 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
About Circuito 6 Cuchilla Grande S.A.
Circuito 6 Cuchilla Grande S.A. is a special purpose company created specifically for these purposes. Its shareholders, who are detailed below, are companies with a recognized track record internationally and in Uruguay. Rover Infraestructuras SA, a Spanish company with a presence on four continents, is specialized in railway contracts, maritime works, and the development of property and tourism complexes. Construcciones Viales y Civiles SA (CVC), a Uruguayan company with more than 60 years of experience, is engaged in the construction, rehabilitation and maintenance of roads for the public and private sector.