The US$340m (£223m) highway, which is called Corridor 21-24, will connect the cities of Nueva Palmira and Mercedes.
The Uruguayan Ministry of Transport & Public Works awarded the contract to a consortium formed by Sacyr Concesiones (43%), Sacyr Construcción (8%) and Grinor (49%). The project involves the building, restoration and management of a 179km corridor between the cities of Nueva Palmira and Mercedes.
The concession has been signed for an initial 24-year term. The investment is expected to be in excess of US$160m, with an income portfolio of approximately €340m.
Sacyr Concesiones CEO Rafael Gómez del Rio said that the project was an excellent initiative and one, moreover, that opens a new market for the company in the region.