Brazil awards major concession

A consortium headed by 2688 Ecorodovias is taking over the concession for the BR-101 highway in Brazil. The road links the states of Espirito Santo and Bahia. The consortium led by Ecorodovias won the concession following competitive offer for the contract, despite tough competition from six other firms for the deal. Some US$1.21 billion will be invested in the highway by the consortium, in which Ecorodovias has an 80% stake and SBS holds a 20% share. Funds will be used to widen the road as well as for planned maintenance and improvement work