On April 3rd, 2025, a GRI Club Meeting was held at Madrona Advogados in São Paulo, with the participation of the Government of the State of Minas Gerais, represented by the State Secretariat for Infrastructure, Mobility and Partnerships (SEINFRA) and the Development Company of Minas Gerais (CODEMGE).
The main objective of the event was to present and discuss the Via Liberdade road concession project (Lot 7 – Ouro Preto – Mariana). The presentations and discussions were led by Pedro Bruno Souza, Secretary of SEINFRA; Luisa Cardoso Barreto, President of CODEMGE; and Rodrigo Barata, partner at Madrona Advogados. The event brought together several GRI Club members, particularly investors and potential stakeholders interested in the project.
Why is Via Liberdade relevant?
The presentation of the Via Liberdade project reinforces the commitment of the Government of Minas Gerais to modernize transportation infrastructure, improve road safety, and promote sustainable regional development. The event marked an important step toward attracting qualified investors, fostering competitive bidding, and delivering a transformative project for the state.
This is a strategic opportunity in Brazil’s infrastructure market, backed by strong institutional governance and secured public contribution. The concession links key tourism and economic hubs and offers predictable cash flows. It is ideal for investors seeking long-term, resilient assets in Latin America.
About Via Liberdade
Via Liberdade comprises Lot 7: Ouro Preto – Mariana, a strategic road corridor for tourism and regional development. The concession covers 190.1 km of highways, crossing 11 municipalities and including segments of highways MG-262, MG-329, and BR-356. The project foresees BRL 3.7 billion in capital expenditure (CAPEX) and BRL 1.5 billion in operational expenditures (OPEX) over the 30-year concession period.
Project structure and highlights
The project will be implemented through a Public-Private Partnership (PPP) with public financial support. Toll collection will operate entirely through a free-flow system, with incentive mechanisms for frequent users (DUF) and those using TAG-based automatic payments. The model also includes tariff reclassification mechanisms that adjust toll values following capacity-expansion works, aligning incentives and contractual performance.
Toll collection is scheduled to begin in the 12th month following the contract’s effective date, with four electronic toll gantries and a base rate of BRL 5.58.
Structuring timeline and milestones
The presentation outlined key project milestones. The bidding notice was published on March 28, 2025, and the auction is scheduled to be held at B3 (the Brazilian Stock Exchange) on July 10, 2025.
Planned investments and improvements
Key works and services planned for the project include:
- Duplication of 118.8 km of roads and implementation of 26.8 km of additional lanes, 65.5 km of shoulders, and 6.8 km of service roads.
- Construction of 11 pedestrian overpasses, 124 new or refurbished bus stops, and interventions on 34 Special Engineering Structures (bridges and viaducts).
- Realignment of 23 km of critical curves and implementation of a truck escape lane and rest areas for drivers.
Public contribution and guarantees
The State of Minas Gerais has committed to a maximum public contribution of BRL 1.83 billion, with an initial BRL 300 million to be transferred as a condition for contract effectiveness. The remaining funds will be disbursed in accordance with pre-established investment milestones, which were designed to streamline the release of resources to the concessionaire. The funds are secured through the Mariana Agreement, signed by the State of Minas Gerais.
Expected results
The Government expects the project to deliver:
- Increased safety: up to 65% reduction in fatal accidents
- Improved traffic flow and mobility
- Boost tourism and the regional economy, generating positive impacts on employment and income and
- Enhanced user experience through technology and efficient service management.
Overview of infrastructure in Minas Gerais
Secretary Pedro Bruno Souza highlighted that Minas Gerais has the largest paved state road network in Brazil, spanning over 22,000 km. The current administration, alongside ongoing federal initiatives in the state, is leading a robust partnership program with an estimated R$ 100 billion in infrastructure investments over the next seven years. This includes six active state concession contracts, five new lots under structuring, and additional federal projects. These factors reinforce the expectation that Minas Gerais will become the epicenter of infrastructure investment in Brazil in the coming years.
Institutional development of the State
The State of Minas Gerais is building a strong and specialized institutional framework to support the efficient management of its public-private partnerships and concession contracts. The coordinated work of the Sub-Secretariat for Concessions and Partnerships and the Sub-Secretariat for Transport Regulation will be strengthened by the creation of the State Transport Regulatory Agency of Minas Gerais (ARTEMIG), enhancing the state’s technical and regulatory capacity. Approval of ARTEMIG by the State Legislative body is expected in the coming months, representing a key milestone for the sector.
ARTEMIG, with autonomy and independence, will serve as a central pillar in overseeing contract compliance and regulating public service delivery—ensuring greater legal certainty and predictability for projects. Additionally, the Public-Private Partnerships Management Committee (CGPPP), chaired by the Vice-Governor, guarantees strategic project governance. CODEMGE, in turn, has restructured its operations to reinforce technical and operational support in structuring new projects, strengthening planning capacity and facilitating infrastructure investment throughout the state. This institutional arrangement is crucial to building market confidence in Minas Gerais’ infrastructure initiatives.