PIF, Patria Investments partner on $1.2B infrastructure project in Brazil

Logo of Saudi Public Investment Fund (PIF)

The Saudi Public Investment Fund (PIF) secured a 30-year concession partnership with Patria Investments, a leading alternative asset management firm focused on Latin America, to expand the infrastructure capacity and operate a major new toll road project in Parana, Brazil.

In a company statement picked up by Argaam, Patria announced winning the toll road project, in a consortium with PIF, as part of a capital expenditure investment worth $1.2 billion. The project has been awarded in an official auction conducted by the Brazilian government.

The new road represents 473 kilometers in the existing toll highway system in Parana, one of the largest and most prosperous Brazilian states, with all associated operations overseen by Patria and PIF until 2053 as per the agreement, the statement added.

The toll road capacity extension, which runs from Curiciba to Guarapuava and connects Ponta Grossa with São José dos Penías, is planned to further expand Parana’s current transport infrastructure and the highway links that serve the southern Brazilian state.