Pátria Investimentos signs contract for the largest highway concession in Brazil
The Piracicaba-Panorama Highway System (PiPa) concession will be managed by EIXO-SP, a company set up by a consortium controlled by Pátria in R$ 14 billion investment in highways in Sao Paulo State.
Sao Paulo, May 15, 2020 – On Friday, May 15, executives in the consortium led by Pátria Investimentos and EIXO-SP signed the contract for the Piracicaba-Panorama Highway System (PiPa) concession. The concession bid for successfully in the auction held by the Sao Paulo State Transport Agency (ARTESP) in January will be managed by EIXO-SP, a company set up recently by Pátria and which should start operating on Thursday, June 4.
The 30-year EIXO-SP concession involves managing 1,273 kilometers of highways connecting 62 municipalities in Sao Paulo State. The contract stipulates about R$ 14 billion investment to add a second lane to 600 kilometers of highway and to improve road infrastructure and the quality of services, making them safer for users and benefiting communities, industry, and commerce in the State.
"The signing of the contract and the beginning of the operation of the largest highway concession ever made in Brazil are significant at this time and show the commitment and confidence Pátria Investimentos has in the dynamism of Sao Paulo State's economy and its capacity to recover in the face of the challenges created by the pandemic. Investment in infrastructure is vital to productive activity in the State," says Sergio Santillan, CEO of EIXO-SP.
Managing partner at Pátria Investimentos, Felipe Pinto, says, "Regulatory stability has been fundamental to the success of the Sao Paulo highway concession program. The signing of this contract attests to Pátria's confidence in Sao Paulo's regulatory environment and ARTESP, which, in a transparent and balanced manner, has always sought to reconcile the interests of investors, users, and the State."
EIXO-SP, a new company set up to manage the PiPa Highway System concession's highways, expands the varied Pátria Investimentos portfolio.
Patria is leader in alternative asset management in Latin America, with over 30 years of experience in Private Equity, Infrastructure, Real Estate and Credit. Currently, Patria maintains ten offices in the main financial centers of the world. Since 2010, Patria has Blackstone, a global leader in alternative investments management, as a relevant partner. Additional information is available at: www.patria.com.
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