Govt. modifies Bosque hwy. concession contract

Chile's government has modified tollroad operator Autopista del Bosque's contract, Autopista said in a filing to the country's securities regulator (SVS) Friday. Under the modification, the concession ceases to be a fixed-term contract due to the implementation of an income distribution mechanism (MDI). The contract's new expiration date now depends on when a total guaranteed income equal to some US$283mn is reached. In general terms, under an MDI, the government will insure revenue against a sudden drop in passenger flows in return for a premium paid via additional public works construction. In the case of Autopista, which operates the Chillán-Collipulli highway in Region VIII, the additional investment will be for some US$18.3mn. Dumez-GTM and Tribasa Cono Sur make up Autopista that was awarded a 21-year concession in 1997 to upgrade and operate the 160km stretch on the Pan-American highway (Ruta 5).