Brazilian consortium Porto Novo, made up of Odebrecht, OAS and Carioca Engenharia, has won a 7.3bn-real (US$4.26bn) tender to carry out phase II of Rio de Janeiro city's Porto Maravilha port area urban renovation project.
The 15-year agreement between the city and the consortium represents Rio de Janeiro's first public-private partnership (PPP), the official 2014 World Cup website reported. The contract is due to be signed by end- November.
The project includes building the city's Binario road system, which will be under construction from January 2011 to January 2013, the report said.
Besides urbanizing the Morro do Pinto region, work will also include paving streets, building sidewalks and installing water and sewerage systems.
Rio de Janeiro is hosting both the 2014 World Cup and the 2016 Olympic Games. All road and infrastructure work is expected to be ready in time for the 2016 event.