Wednesday, April 30, 2014

Perú: Spanish-Directed Consortium to Head Up Construction of Line 2 of Lima Metro

According to The Latin American Tribune, the Peruvian government on Monday (April 28) signed with the consortium made up of Spanish firms ACS and FCC, among others, the contract to build Line 2 of the Lima Metro, one of the largest infrastructure projects in Latin America.

Deputy Transportation Minister Henry Zaira and the representative of Iridium, Juan Santamaria, signed the contract at the Government Palace in the presence of President Ollanta Humala, several ministers and executives from the international consortium.

President Humala congratulated the companies and public officials who participated in crafting the contract and remarked that its stipulations must be fulfilled both by the state and the private sector.

COMMENT: ACS and FCC, parties in a multinational consortium with Italian firms Impregilo and AnsaldoBreda and the Peruvian company, Cosapi, on March 28 were awarded the 3.9 billion euro ($5.4 billion) contract to build and operate Line 2, the largest current project in Perú and one of the largest in the world.

Line 2 will be 35 kilometers (22 miles) long, run through 13 districts in the capital and the neighboring port of Callao and have a branch line to Lima's international airport.

The total investment will amount to 4.08 billion euros ($5.65 billion), and of that total about 3.02 billion euros (4.18 billion) will be contributed by the state and 1.06 billion euros ($1.47 billion) by the consortium, Proinversion announced.