Spanish consortium wins US$3.4 billion ring road project in Lima

A consortium of Spanish construction and engineering companies has called on Philippi Prietocarrizosa Ferrero DU & Uría (Peru) to place a winning bid for a concession to build, operate and maintain the Anillo Vial Periférico a ring road in Lima, the country’s largest public-private partnership (PPP) in the past decade.

Peru’s national investment agency ProInversión relied on and Garrigues (Peru) to award the consortium with the bid on 4 April.

The consortium consists of Spanish infrastructure and construction companies Cintra, Acciona and Sacyr. Cintra owns 35% of the consortium, while Sacyr and Acciona own 32.5% each.

The Anillo Vial Periférico ring road will be almost 35 kilometres in length and connect 12 districts within the Peruvian capital. More than 4.5 million people will benefit from the ring road, and it is set to generate more than 70,000 jobs.

Work on the project will be split into three parts, with total costs expecting to reach US$3.4 billion. Construction of the project is expected to take almost ten years to complete, and the consortium will be in charge of the road’s operation for the 30-year length of the concession contract.

ProInversión published its declaration of interest in the project alongside Peru’s Ministry of Transport and Communications in December. The investment agency relied on Garrigues at the time to structure the ring road project.

This project was among the first private infrastructure initiatives proposed in Peru. It will be partly financed by the Peruvian government, whilst the maintenance and operation costs will be covered by the income accrued from toll payments.

ProInversión regularly invests in and awards concessions for local infrastructure projects. Last year, it awarded a concession to Spanish energy infrastructure group Celeo Redes for a transmission line project that will connect the electricity supply between Peru and Ecuador.

Spanish infrastructure group Sacyr regularly invests in Latin American projects. Last year, the company secured a US$642 million refinancing for the Pamplona-Cúcuta 4G toll road near the Colombia-Venezuela border. Garrigues’ Colombian office was involved in that deal.

Similarly, Acciona sponsors several infrastructure projects in the region, including a line of São Paulo’s metro line, which issued US$100 million worth of debentures last year.

Counsel to Cintra, Acciona and Sacyr 

Philippi Prietocarrizosa Ferrero DU & Uría (Peru)

Partner Ronald Fernández Davila and associates David Cueva and Angelita Ruiz

Counsel to ProInversión 

Garrigues (Peru)

Partner Oscar Arrús, of counsel Víctor Baca and associates Jorge Fuentes, Giancarlo Vignolo, Rodrigo Ramos and Marcelo Silva-Santisteban


Latin Lawyer