Peru´s investment promotion agency ProInversión recently named a joint venture of Spain´s Sacyr Concesiones and the local firm Constructora Málaga Hermanos as preferred bidder for a US$552-million contract to build, improve, rehabilitate, operate and maintain Carretera Longitudinal de la Sierra, Norte, an existing 875-km long road.

Under the deal, the team will also build a 90-km stretch of new road. Peru will pay operators fees in U.S. dollars over the 25-year life of the concession. Toll revenues will be handled by the government.