IDEAL Tipped for Farac Sequel

Mexico’s IDEAL last week presented the highest bid for the North Pacific highways concession, or Farac II, and will likely win, Mexico’s head of public credit Gerardo Rodriguez tells LatinFinance. IDEAL bid MXP3.2bn and there were 2 other contenders, Spain’s Global Via with ICA, and Spain’s OHL alone. The pitches to build and operate 2 roads and operate them for 30 years is now being assessed by a technical committee. “If there’s no issue there, IDEAL should be awarded the concession in 2-3 weeks’ time,” says Rodriguez. Banobras and the national infrastructure fund are providing senior financing for the deal, which requires MXP8bn total investment. Bids on a third toll road package in Tamaulipas are due in November. “We think it should also show that there’s plenty of interest there,” says Rodriguez.