Aplicación de Modelos de Contratación EPC (Engineering, Procurement and Construction) en Proyectos de Construcción de Vías : evaluación técnica, legal y financiera.

Abstract

The research evaluated the feasibility of implementing an EPC contract for the widening of the “Montecristi, Jipijapa, La Cadena” road. Technical specifications were defined, based on the regulations suggested by the MTOP, which included the type of pavement, road width, signaling and traffic study. In the legal area, compliance with Ecuadorian legislation on public-private partnerships was ensured, clearly defining the roles of each party, given that the application of this EPC contracts are more in line with such partnerships. A detailed budget was created and a base toll rate of US$2 was set. The financial analysis used net present value (NPV) and internal rate of return (IRR) to project cash flows over two decades under different economic conditions. The results showed that if the private sector assumes the entire investment, the project is not financially viable. However, a return of more than 10% can be obtained through a mixed financing scheme in which the private sector assumes 50% of the investment.