PIF Invests USD 1.2 Billion to Develop Road Project in Brazil

Saudi Arabia's Public Investment Fund (PIF) has partnered with Brazilian alternative asset firm Patria Investments to acquire a 30-year concession, investing USD 1.2 billion in the expansion of toll roads in Parana state. The firms successfully secured the 473km brownfield project through an official auction conducted under the administration of Brazil's President, Lula da Silva.

The newly developed motorway links will significantly enhance transportation infrastructure across Parana, benefitting its population of over 11.5 million residents and is projected to generate an annual revenue of USD130 billion. Patria Investments brings a wealth of experience in managing toll road operations, overseeing a network of more than 4,000km of highways catering to 230 million vehicles.