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BCP lends US$35mn to CoviPeru for Red Vial 6 (Peru)
Peru's biggest bank, Banco de Credito del Peru (BCP), has approved a US$35mn loan to concessionaire CoviPeru, state news agency Andina reported.


The funds will be used to partially finance construction of the first phase of the Red Vial 6 highway.


CoviPeru will carry out the expansion of the Cerro Azul-Chincha Baja stretch, construction of underpasses and pedestrian bridges as well as operate and maintain the highway under a 30-year concession.


The first phase of the project will require investment of some US$72mn and work is scheduled to be completed by December.


CoviPeru, a subsidiary of Ecuador's Hidalgo & Hidalgo, was awarded the concession of the 222km Red Vial 6 stretch of the Panamericana Sur highway in September 2005.

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