After a slow start under its new public-private partnership code, Uruguay’s Ministry of Transport awarded its first P3 highway, an availability fee deal, to a consortium led by Spain’s Sacyr Concesiones. The 24-year DBFOM concession is to upgrade for US$160 million the “Corredor Vial 21-24”, a 179-km traffic corridor along the Uruguay River forming part of the border with Argentina. Sacyr holds 51% of the consortium and Grinor, a local building firm, holds 49%. This is Sacyr’s first project in Uruguay.

Uruguay referred to the project as a “milestone” that will help kick-start the economy. It is the first of six P3 roads worth some US$663 million that the Economy ministry is rolling out hoping to revitalize the economy whose growth rate is slowing. Portugal’s Mota-Engil says it has prequalified to bid for future deals.