The state of Mato Grosso moved one step closer to assuming control of the project to upgrade BR-163, the so-called “soybean highway” in Brazil. South American consultant Dr. Michael Cordonnier says BR-163 is arguably the most important highway in Brazil as far as agriculture is concerned. It runs north to south across the entire state of Mato Grosso, Brazil’s largest soybean producer, and is used to transport grain to northern ports on the Amazon River and to rail terminals that connect to the Port of Santos.
Mato Grosso has agreed to take over the construction project from a private company and invest $1.2 billion reais ($230 million) to finish the project. Cordonnier says the last remaining hurdle is to negotiate the debts the company owes to banks that originally financed the project.