Pátria and Singapore’s Sovereign Fund Win Bid for Longest Road Concession in Brazil

Existing concessionaires were left out of the auction, such as CCR, while Ecorodovias bid R$527.05 million.

RIO DE JANEIRO, BRAZIL - The 'Consórcio Infraestrutura Brasil' ("Brazil Infrastructure Consortium"), comprising 'Pátria' and GIC (Singapore Sovereign Fund), has won the auction for the Piracicaba-Panorama road section (named PiPa), held on Wednesday, January 8th, at the B3 Stock Exchange. The consortium placed a bid of R$1.1 billion (US$275 million) for the lot.

According to the Transportation Agency of the State of São Paulo (ARTESP), the amount of R$15 million had been established as the minimum acceptable bid.

Heavyweight concessionaires did not participate in the auction. CCR and Arteris, which currently operate part . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?