A EcoRodovias became the winner this Thursday (28) of the last major highway auction of this year, the project Nova Raposowhich brings together Raposo Tavares and two other highways in São Paulo, for R$2.19 billion.
EcoRodovias overtook CCRcurrent asset manager, which offered less than half the value of the competitor (R$ 1.04 billion) – second place in the competition was the consortium EPRwhich brings together Equipav with the manager Perfinwhich offered R$1.17 billion. The amount disbursed by Nova Raposo did not please investors, with EcoRodovias shares falling almost 20% this Thursday at B3.
EcoRodovias, known for managing the highways that connect the capital of São Paulo to the state’s coast, incorporated the 12th highway into its portfolio and weakens its competitor CCR. The two companies faced a fierce dispute last month along Rota Sorocabana. At the time, the victory went to CCR.
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EcoRodovias returns to receive a concession after more than two years without updating its asset portfolio. After a major investment cycle from 2020 to 2022, the company prioritized the management of its debt with the spike in interest rates (which rose from 2% to 13.75% per year).
“It’s an important asset, we studied it very well,” said the executive president of Ecorodovias, Marcello Guidotti, in a statement after the auction at B3. “We are committed, we really want to make a difference… We are sure of our move, we are sure of our studies and we are going ahead”, he added.
With the victory in Nova Raposo, EcoRodovias will manage 1,800 km of state highways over 30 years. The company committed to investing R$8 billion in improvement works. The highways include the first kilometers of Raposo Tavares, connecting São Paulo to Cotia (SP), and Castello Branco, connecting São Paulo to Barueri (SP), as well as sections between the cities of Cotia and Embu. The contract signing is scheduled for March 2025.
The project foresees duplication of investments; implementation of additional lanes; marginal roads; new devices; adaptation of special works of art; new walkways; and bus stops. According to CCR, the Castello-Raposo system is the main connection between the capital and the west of São Paulo, through which around 720 thousand vehicles pass daily.
With information from Reuters
