FERRERE advised the Andean Development Corporation (CAF) and its fund management entity, CAF Asset Management (CAF-AM), on the granting of a new loan for approximately USD 8 million to Grupo Vial Oriental Uno, which will be allocated for the road infrastructure project in Uruguay “Circuito 1” (Circuit 1).
Grupo Vial Oriental Uno, a corporation with a specific purpose controlled by the construction companies Traxpalco S.A., Hernández y González S.A., Minamel S.A., and Welisun S.A., will use these funds for certain additional infrastructure works on sections 1, 6, 7, 8, 10, 11, and 12 of the Road Circuit 1, with the aim of expanding and modifying certain project features to enhance service levels and safety.
Circuit 1,’ a public-private partnership (PPP) initiative, emerged as a joint project between Grupo Vial Oriental Uno and the Ministry of Transport and Public Works (MTOP), aiming to reconstruct and maintain routes 12, 54, 55, and 57 for 20 years.
The consultancy provided by FERRERE, which involved negotiating modifications to the existing PPP contract and the construction, operation, and financing documents, was carried out by a team led by partners Sebastián Ramos and Gonzalo Secco, and included professionals Lucía Olloniego, Agustina Pérez Lete and María Victoria Costa.