FERRERE advised the Andean Development Corporation (CAF) and Fondo CAF-AM on granting a new USD 30 million loan to the “Circuito 2” highway infrastructure project in Rocha, Uruguay.
This funding will allow Grupo Vial Oriental Dos, controlled by the Traxpalco and Hernández & González construction companies, to continue working on pavement improvements for highway routes Nos. 9 and 15 and inclusion of additional works in the locality of 19 de Abril and the city of Chuy’s bus terminal.
The construction will take place at a vital access point to Brazil, one of Uruguay’s chief trading partners, and will facilitate roadway transport of exports.
This initiative, tendered in 2021, is a Public-Private Participation project (PPP) between Grupo Vial and Uruguay’s Ministry of Transportation and Public Works (MTOP).
FERRERE’s advice involved negotiations for amending the current PPP and construction agreements and financing documents already in place. The FERRERE team was led by partner Sebastián Ramos and the practitioners Ana Laura Oliveros, Lucía Rosso and Lucía Olloniego.