By Brazil Stock Guide – Brazil’s state development bank BNDES said Monday (9) it approved R$9.2 billion in financing for highway concessionaire EPR Iguaçu SA, backing a large-scale package of upgrades and lane duplication works across western and southwestern Paraná.
The transaction was structured as a limited-recourse project finance deal, with most of the funding raised through a debenture issuance coordinated by BNDES, according to a statement from the bank.
“The financing was structured under a limited recourse project finance model, including R$8.6 billion from a debenture issuance — the largest incentive debenture offering of 2025 — coordinated by BNDES, and R$605 million in financing through the Finem line,” the lender said.
The investment program covers 662 kilometers of highways, including stretches of federal routes BR-163 and BR-277 and state highways PR-158, PR-180, PR-182, PR-280 and PR-483. A 462-kilometer portion of the network is set to receive lane duplication works.
The project is part of Paraná’s Rodovias Integradas program, specifically Lot 6, and includes upgrades linked to major border crossings. Among the planned interventions are works involving the Tancredo Neves Bridge, the Friendship Bridge, and the new Brazil–Paraguay bridge.
The plan also includes two new urban bypasses in the municipalities of Lindoeste and Marmeleiro, along with safety and capacity upgrades such as runaway truck ramps, viaducts, 31.4 kilometers of additional lanes, 87.1 kilometers of marginal roads and 38 pedestrian walkways.
Additional measures include 131 access improvements, 134 bus stops, bike lanes, noise barriers, wildlife crossings, and hazardous materials containment boxes, as well as ongoing rehabilitation and maintenance of the concession corridor.