Chile’s Chacao Bridge project - futuresecured

Chile’s landmark Chacao Bridge project now looks to be back on a sound footing, with completion expected in late 2022 or early 2023. This projects for the 2.6km-long bridge was to have been built jointly by Brazilian firm OAS and South Korean company Hyundai. However OAS hit financial difficulties and had to withdraw from the project. As a result, Hyundai will now buy the 49% stake OAS had in the project. As Hyundai already has a 51% stake in the bridge project, this will give the firm total ownership ove
July 19, 2018 Read time: 2 mins
Chile’s landmark Chacao Bridge project now looks to be back on a sound footing, with completion expected in late 2022 or early 2023.


This projects for the 2.6km-long bridge was to have been built jointly by Brazilian firm 1511 OAS and South Korean company 236 Hyundai. However OAS hit financial difficulties and had to withdraw from the project. As a result, Hyundai will now buy the 49% stake OAS had in the project. As Hyundai already has a 51% stake in the bridge project, this will give the firm total ownership over the works.

The project has been subject to a number of delays and an earlier plan was cancelled at a fairly late stage over cost concerns. The new bridge will be a suspension type structure designed to cope with the often severe earthquakes in the area. It is also being designed and constructed to cope with high winds (of up to 240km/h) and strong sea currents that also occur in the area.

Building the bridge will provide an important transport link to Chiloe Island, providing a key economic boost to the area in terms of tourism and trade. The new bridge will replace the current ferry traffic on which the islanders rely, cutting travel times to just three minutes compared with the 25-45 minutes that the ferry crossing involves.

Finance & Funding

For more information on companies in this article

Related Content

  • Chile’s US$1 billion Chiloe Island bridge behind schedule
    February 22, 2024
    Chile’s US$1 billion bridge to link Chiloe Island with the mainland is behind schedule.
    Read More
  • Chile bridge project under control
    November 15, 2017
    The project to build the Chacao Bridge in Chile will now be managed fully by South Korean Contractor Hyundai. The firm formed a consortium, Consorcio Puente Chacao, with Brazilian contractor OAS to build the bridge. However OAS later hit financial issues, so Hyundai has now assumed full control of the project. The new bridge will connect the mainland with Chiloe Island and will be designed to cope with potentially extreme conditions. The area has suffered some of the most powerful earthquakes ever recorded
    Read More
  • Chile bridge design unveiled
    June 27, 2016
    The final design of Chile’s Chacao Bridge has now been revealed. This project is expected to cost in the order of US$700 million. The initial design was unveiled in 2015 but was then subject to a number of modifications to better meet requirements. South Korean company Hyundai is playing a central role in the consortium that will build the project although its partners for the work have yet to be finalised. Plans to build a bridge connecting Chiloe Island to the Chilean mainland have been discussed for some
    Read More
  • Construction to start on Chile’s key bridge project
    January 23, 2018
    Construction is to commence on Chile’s key Chacao Bridge contract shortly. This comes after many delays over the years, including the previous cancellation of the project. The South Korean firm Hyundai has the contract to build the structure and has been given approval for a change to the design and construction contract by Chile’s General Comptroller. This development will pave the way for the first five of 24 phases in the bridge’s construction. Final approval for the technical requirements and the contra
    Read More

Highlighted Content