The target is a contract to operate a toll highway until 2030.
On August 30th, the Argentine company Autopistas del Sol reached an agreement with the Federal Government of Argentina for the extension of a concession. The target is a contract to operate a toll highway until 2030.
The organization also reserves the right to collect a compensation of $500,000,000 throughout the term of the concession, due to losses suffered by the company from 2002 to 2015, which occurred because of a violation of the contract on the Argentine government’s part.
Both parties involved have reached a consensus concerning the agreement, which is still subject to a public hearing and it will become effective once it is approved by the president of the country. The government expects this decisive step to happen in late 2017.
This deal between Autopistas del Sol and the Argentine government is the first major public contract to be renegotiated by President Macri and it is one of the most important toll concessions in the country.
Autopistas del Sol received legal assistance from the law firm Marval O’Farrel & Mairal.