IDEAL Lands North Pacific Concession

As expected, Mexico’s IDEAL has won the North Pacific highway package, also known as Farac II, the government says. The construction and engineering company controlled by Carlos Slim bid MXP3.22bn, the highest in a field that also included Spain’s Global Via with ICA in consortium, and Spain’s OHL alone. The 30-year concession will require MXP3.7bn-MXP4.0bn in investment and includes an existing 181.5km toll road connecting Culiacan, Sinaloa to Mazatlan, and bypasses in each city to be built. Banobras and the Fonadin national infrastructure fund are set to provide senior financing for the deal. Bids on a third toll road package in Tamaulipas are due in November. The North Pacific package is the first to be tendered in a set that was offered together earlier this year – and also known as Farac II – but cancelled it after the government said bids fell short of the minimum requirements. Bids on a third toll road package, in Tamaulipas, are due in November.