Three companies—Sacyr Concesiones Chile, ISA Vías, and Grupo Costanera—have submitted bids to the Ministry of Public Works (Chile) for the concession project of Ruta 5 Sur between Río Bueno and Puerto Montt.

The technical and financial proposals for the concession of Ruta 5 Sur between Río Bueno and Puerto Montt have been submitted for evaluation. The project represents an estimated investment of about USD 821 million. The companies that participated in the bidding process and presented their proposals are Sacyr Concesiones Chile, ISA Vías, and Grupo Costanera.

The project aims to upgrade and modernize roughly 129 km of Route 5 South in the Los Lagos Region, benefiting around 530,000 residents. The concession corridor passes through several municipalities, including San Pablo, Osorno, Río Negro, and Purranque in Osorno Province, as well as Frutillar, Llanquihue, Puerto Varas, and Puerto Montt in Llanquihue Province. The project extends to the Puerto Montt municipality, enabling the concession to potentially be awarded in the first half of 2026, with construction expected to start in 2031. Under the new concession, about 79 km of the existing Ruta 5 Sur will be widened to three lanes in each direction. This expansion will occur along two main sections: a 33-km stretch from the beginning of the concession north of the Pilmaiquén River to the southern area of Osorno, and a 46-km section from the northern part of Frutillar to the south of the Cardonal interchange in Puerto Montt. 

In addition, the project includes new vehicular links and crossings; the replacement of bridges; the transition to a "Multi Lane Free Flow" toll collection system; pavement rehabilitation; new pedestrian overpasses, bus stops and pedestrian circuits; improvements to the route's lighting and drainage system; a complete upgrade and improvement of road safety; the construction and improvement of 147 km of service roads, and 33 km of bike paths, among other works.