PROJECT FINANCE Toll roads: Latin concessions scaled down

Latin concessions scaled down First they tried sweetening them, but now Latin governments are trying to scale back infrastructure programmes altogether. Only the most modest PPP deals will attract a sponsor and lender following. John Rumsey reports Last year, governments in Latin America such as Colombia and Mexico wanted to boost long-term infrastructure project spending, including road building, seeing it as excellent counter-cyclical policy at a time of recession. Colombia announced a huge $24 billion infrastructure program in January and said that it expected $14 billion would come from the private sector. Mexico planned to spend $3.7 billion of public money and leverage a further $1.67 billion of private sector money to continue its series of Farac concessions, covering 23 highways and construction of 2,193km of roadway.

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