With a unique proposal, the company secured the new concession of BR-101/ES/BA. The new agreement reduces mandatory investments, mitigating risks and improving the financial return outlook.
Ecorodovias was the big winner in the auction for the new concession of BR-101/ES/BA. The company, which already managed the section through its subsidiary Eco101, was the only one to present a proposal in the bidding held at B3. The victory ensures the management of the highway for another 30 years, but under new and more favorable contractual conditions.
A Solo and Strategic Victory in the Auction
Ecorodovias emerged victorious as the sole bidder in the auction for the highway’s re-concession. The company offered a discount of 1.11% on the basic toll fee. This outcome was somewhat expected by the market, as the company had the right of first refusal to match the best offer.
The absence of other competitors in the auction solidified the company’s position, which now embarks on a new cycle of highway management, with a redesigned contract to be more financially sustainable.
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Less Risks and Greater Return Expected
The main change in the new contract is the significant reduction in mandatory investments, known as Capex. This occurs because the new agreement no longer requires the duplication of the entire length of the highway, which was one of the biggest challenges of the previous contract.
This contractual change represents an important risk mitigation for Ecorodovias. The company will now have more flexibility to make investments according to demand, focusing on maintenance and operational improvements, which enhances the asset’s return potential.
The Reaction of the Financial Market to Ecorodovias’ Victory in the Auction
Market analysts, such as Bradesco BBI, received the news positively. The assessment is that the victory in the auction is beneficial for Ecorodovias, precisely because of the reduction in risks associated with the heavy investments of the original contract.
The bank maintained its buy recommendation for the company’s shares (ECOR3), with a target price of R$ 15.00. The general perception is that the new format of the concession makes the project safer and with a more attractive return.
Details and Numbers of the New Concession of BR-101/ES/BA
The new concession contract for BR-101/ES/BA will have a term of 30 years. Investments of around R$ 3.9 billion are planned over this period. In addition, operational costs for the maintenance and service of the section are estimated at R$ 5.3 billion.
The project also has a positive social outlook, with an expectation of generating around 9,000 direct and indirect jobs in the region.
The History of the Concession and the Change in Course
The holding of this new auction is the culmination of a process that began in 2022, when Ecorodovias opted for the amicable return of the original concession, signed in 2013. The company faced difficulties in meeting investment obligations, especially the duplication of the roadway, due to hurdles such as environmental licensing and expropriations.
The re-bidding allowed for the creation of a more modern contract suited to the reality, ensuring the continuity of services on the highway under a more balanced and advantageous model for the concessionaire.

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