June 20, 2006
Odebrecht signs US$991mn Orinoco bridge contract

(BNamericas.com) - "Venezuela's national government has signed a US$991mn contract with Brazilian construction giant Odebrecht to build 115km of highway and a 2.4km bridge across the Orinoco river, according to a government press release.

The bridge, which will be only the third to cross the lower reaches of the river, will connect Venezuela's Bolívar and Guarico states. Some 12km of highway will be constructed north of the bridge to connect with Cabruta, in Guarico, and 103km will be built south of the bridge to connect with Cazorla, in Bolívar.

The bridge will take about four years to build, with Venezuela making annual payments to Odebrecht as work progresses. The first payment will total some US$100mn.

The first line of buoys will be placed across the river July 1, allowing construction to begin in earnest.

The Orinoco is the third largest river in South America, with a drainage basin of some 880,000 sq km.

officials at the infrastructure ministry were not immediately available for comment when contacted by Bnamericas".