Chile's ministry of public works has launched tenders for two highway projects totaling nearly $500 million, according to a report on the ministry's website.
The tenders will be for the construction, maintenance and operation of two stretches of highway along Chile's Ruta 5 and Ruta 66.
The timeframe for implementation of the Ruta 5 stretch, totalling 55 kilometres, is estimated at 3 years, with a maximum concession period of 40 years. The cost is estimated at $180 million, with a state subsidy of 50 percent for the investment.
The timeframe for implementation of the Ruta 66 stretch, totalling 138 kilometres, is estimated at 4 years, with a concession period of around 35 years. The cost is estimated at $300 million, also with a state subsidy of 50 percent for the investment.
Economic and technical bids for the projects are due June and July 2009, respectively.
Chile is the second Latin American country to open highway projects for private investment in recent days. At the beginning of last week, Brazil announced that it would seek private capital for 24 stretches of highways under its PPP and concession programmes.