Hyundai looking for new partner for Chilean bridge deal

South Korean firm Hyundai is looking for a new partner to join the consortium that will construct Chile’s Chacao Bridge. The project has been planned for some years, having been cancelled once previously, and will connect with Chiloe Island, replacing the current ferry service. The new partner for the consortium would take the place of Brazilian firm OAS, which is currently embroiled in legal difficulties due to an ongoing investigation in Brazil. The aim is that a new partner could buy out the 49% stake in
March 21, 2016 Read time: 1 min
South Korean firm 236 Hyundai is looking for a new partner to join the consortium that will construct Chile’s Chacao Bridge. The project has been planned for some years, having been cancelled once previously, and will connect with Chiloe Island, replacing the current ferry service. The new partner for the consortium would take the place of Brazilian firm 1511 OAS, which is currently embroiled in legal difficulties due to an ongoing investigation in Brazil. The aim is that a new partner could buy out the 49% stake in the project currently held by OAS. Hyundai would retain its present 50% stake, as would the 1% held by a number of smaller engineering firms.
Finance & Funding Road Structures

For more information on companies in this article

Related Content

  • Chile highway link project for Valdivia
    June 26, 2017
    New dual carriageway connections are to be built in Chile to join the town of Valdivia to the Ruta 5 highway. The work is expected to cost US$250 million in all, with the work being planned by Chile’s Ministry of Public Works (MOP) and construction due to start in 2021.
    Read More
  • Costa Rica highway concession package cancelled
    March 19, 2014
    The Costa Rican Government is paying compensation worth US$28.4 million for the cancellation of a highway concession package. The compensation relates to the San José-San Ramón highway concession and is being paid to the Brazilian construction company OAS, reports Business News Americas. This follows a legal dispute over the project and is some $10 million less than OAS originally claimed in compensation. The 30 year concession package was cancelled last year due to opposition. There were allegations of a c
    Read More
  • Chilean bridge repairs planned
    September 13, 2021
    Repair work is planned for a high profile Chilean bridge.
    Read More
  • Project complexity in Bolivia
    April 25, 2012
    Cost increases are being seen on work to the second phase of Bolivia’s Villa Tunari-San Ignacio de Moxos road project. The work looks likely to cost an extra US$250 million as the route will have to avoid the TIPNIS national reserve. The Bolivian Government made the decision to reroute the highway following appeals from the country’s indigenous community. However coca farmers are now appealing against this ruling, while farmers in neighbouring Brazil are also requesting guarantees on land use relating to th
    Read More

Highlighted Content