The Brazilian Development Bank (BNDES) has recently approved a bridge loan of R$965.75 million ($404 million) to BR-040 S.A., the SPV that holds the 30-year concession to upgrade and operate a stretch of a highway linking the capital Brasilia to the port of Rio de Janeiro.
The contract covers a 937-kilometer stretch of Brazil's BR-040 highway between Brasilia and Juiz de Fora on the border of Minas Gerais and Rio de Janeiro states. The project is included in the Investment Program in Logistics (PIL), launched in 2012 as part of Growth Acceleration Program (PAC) of the Federal Government.
The plan aims to upgrade about 5,176 kilometers of mostly two-lane highways into four-lane divided highways within five years. The plan also aims to attract 27 billion reais ($11.4 billion) in investments over five years.