The Chilean Ministry of Public Works (MOP), through its General Directorate of Concessions, awarded a US$821 million concession to Intervial Chile S.A. to modernize the 129-km Route 5 South between Río Bueno and Puerto Montt in Chile.

The initiative, from the General Directorate of Concessions of the Ministry of Public Works, will modernize 129 km of Route 5 South through works such as the expansion to three lanes along approximately 79 km. In addition, new interchanges and crossings, 147 km of service roads, and 33 km of bike paths are planned, among other works, benefiting more than 530,000 people.

The route of the project, the second concession of this section of Route 5, covers the communes of San Pablo, Osorno, Río Negro and Purranque, in the province of Osorno; and Frutillar, Llanquihue, Puerto Varas and Puerto Montt, in the province of Llanquihue, all communes in the Los Lagos region.

The project also includes the improvement and rehabilitation of the existing infrastructure, the construction of new grade-separated structures, new footbridges, bus stops and pedestrian circuits, the improvement of the lighting and drainage system of the route, a comprehensive update of road safety, CCTV cameras interconnected with the police, new service areas and emergency areas, areas for selling typical products, and the implementation of the final electronic collection system in "Multi Lane Free Flow" or teletoll mode, among other road improvements.