Paraguay's public works and communications ministry MOPC received a single bid for the PPP contract for the route 2 & 7 expansion project, which calls for a 149km stretch of four-lane highway between Ypacarai in Central department and Pastoreo, Caaguzú.
The works will be the biggest ever under the country's PPP law.
In the tender, the Sacyr-Mota Engil-Ocho A consortium, presented the only offer for the contract which includes design, finance, construction, maintenance and operation.
"We're pleased to fulfill this stage with the PPP law; where we finally have a very important bidder; the consortium that has presented includes two international companies and a Paraguayan company," said MOPC's head Ramón Jiménez Gaona.
The consortium, composed of companies from Spain, Portugal and Paraguay, was also responsible for the historic Panama Canal expansion.
The 30-year concession proposal will now go into an evaluation process, which is expected to take 45 days.
Investments for the project are estimated at US$450mn with an additional US$80mn required for expropriation. The works will be carried out over a 3-year period.
Route 2 and 7 works include the expansion of 149km of four-lane highway, two lanes in each direction, rehabilitation works of 22.5km of highway, and the maintenance of 149km.
"[The project] is an absolute necessity, given that the Asunción-Ciudad del Este corridor represents 70% of the country's economic activity. This expansion will multiply growth and job creation: we are facing a groundbreaking project," Jiménez Gaona noted.