Lima, Peru, November 26 – Odebrecht Latinvest reached last night an agreement for the joint sale of 100% interests in H2Olmos S.A. and Concesionaria Trasvase Olmos S.A. (CTO), its two concessions in the Olmos Project, to Brookfield Infrastructure and its institutional investors and to Suez, an operator of water infrastructure projects with a global footprint.
The new shareholders committed to guarantee the operation and maintenance of the concessions, while concentrating their efforts on improving the services offered and identifying other opportunities to invest in infrastructure.
Over the coming days, the transaction will be formally submitted to creditors and to the regional government of Lambayeque for their approval.
ABOUT OLMOS PROJECT
The Olmos Project consists of the rerouting of water from the Huancabamba River to the Pacific Basin through a 20-kilometer tunnel through the Andres Mountains, which is then used to irrigate arable land and generate electricity. The project is located in the Lambayeque region situated 900 kilometers to the North of Lima, Peru’s capital.
ABOUT CONCESIONARIA TRASVASE OLMOS (CTO)
CTO is the concessionaire engaged in the construction, operation and maintenance of the Limón Dam and the Trans-Andean Tunnel, which reroutes water from the Huancabamba River to the western side of the Andes Mountains. It is a public-private partnership with a duration of 20 years.
H2Olmos is engaged in the financing, construction, operation and maintenance of the Olmos Irrigation Project through a self-sustainable public-private partnership with a duration of 25 years, with the goal of irrigating 43,500 hectares of land for agro-industrial development.