Ecuador's transport and public works ministry MTOP signed a public-private partnership (PPP) contract for the widening and modernization of the 95km Río Siete-Huaquillas highway in Guayas and El Oro provinces.
Concesionaria del Sur (Consur), which co-signed the document, will carry out the work, which involves investment of US$1.87bn, the ministry said.
About 1,000 direct and 300 indirect jobs are expected to be created during the construction phase.
In related news, the ministry said work will start this year on the Río Siete-Naranjal project and will involve turning the existing stretch into four-lane divided highway.
Also, public works and transport minister Walter Solís Valarezo said the Bolívar port modernization project will be awarded in August and carried out under the PPP model.
The government has said it plans to award US$4.76bn in PPP contracts this year including the Río Siete-Huaquilla, Naranjal-Río Siete, Santo Domingo-Quevedo and Santo Domingo-Esmeraldas highways.