Estados Financieros, (Inglés, Español) - Túnel San Cristóbal

With regard to the specific provisions of IFRIC 12, in Note
2.2, letter b), the conclusion reached by the Company is
described in detail. It consists of having to recognize an
intangible asset for its right to charge the general public for
use of the infrastructure it operates, considering that the total
income obtained will depend on the volume of users that
use the service, with no guaranteed minimum income.
25.2 Characteristics of the Concession Contract
1. The concession contract is comprised of the Bidding
Conditions, the explanatory circulars, the decree of award,
the Supplementary Agreements No. 1 and No. 2 , The Ad
Referendum Agreements No. 1 and No. 2, MOP’s Supreme
Decree No. 514 and the relevant provisions of the various
laws summarized below:
- MOP Supreme Decree 900 of 1996, which establishes the
adapted, coordinated and standardized text of MOP Statutory
Decree 164 of 1991, Law on Public Works Concessions.
- MOP Supreme Decree 956 of 1997, Enabling Regulations
of the Law on Public Works Concessions.
- Article 87 of MOP Statutory Decree 850 of 1997, which
establishes the adapted, coordinated and standardized
text of the Basic Law on the Ministry of Public Works, Law
15,840 of 1964, and Statutory Decree 206 of 1996, the
Roadways Law.
2. The concession is for 390 months as stipulated in
the modification set forth in letter d) of number 6.2 of
Supplementary Agreement No. 1, entered into on July 12,
2007, which modified the Concessions Contract for the
State-owned Public Works called “Concesión Variante
Vespucio- El Salto – Kennedy”. Through this agreement
the original term of the concession that had been set forth
in article 1.7.6 of the Bidding Terms and Conditions was
extended in six additional months. The start of the concession
shall be computed pursuant to a set forth in article 1.7.5
of the Bidding Terms and Conditions, that is from the date
of publication Of the Supreme Decree of Award of the
Concession Contract on the Official Gazette. The number of
this decree is No. 1129 dated November 26, 2004, and was
published on the Official Gazette on February 21, 2005.
Consequently, the date of termination of the concession is
August 21, 2037.
3. The Concession Holder will repair, preserve, maintain
and operate the works set forth in the Bidding Terms and
Conditions, that is the concession project called “Variante
Vespucio - El Salto - Kennedy” which will communicate
Avenida Américo Vespucio in the area of El Salto, district
of Huechuraba, with the districts of Providencia and Las
Condes, on Avenida del Cerro and Avenida Kennedy
respectively. The project will be materialized by way of the
construction of two parallel tunnels that will cross through
the San Cristóbal Hill and a set of surface roads that will
make the connections referred to in number 1.3 of the
Bidding Terms and Conditions.
The Concession-holding Company prepared the necessary
Detail Engineering Projects for the execution of the works
referred to in article 1.9.1 of the Bidding Terms and
Conditions, and may incorporate, at its own cost and under
its own responsibility, with the consent of the State Inspector,
other additional works in addition to those that are required
as a minimum, that in the Concession-holding Company
may contribute to improve the standards and indices set
forth in the Bidding Terms and Conditions.
The main works executed in the approximately 4.1 Km. of
new road are:
-Construction of approximately 2.2 Km of a one-way, two
lane highway, 3.5 meters wide with variable-width median
strips and 1.5 m shoulders.
-Construction of two one-way tunnels approximately 1.9
Km long.
-Construction of Electronic Collection Gantries.
-Connection to the Américo Vespucio - El Salto Crossover.
-Avenida Kennedy- Lo Saldes Connection.
-Avenida El Cerro Connection.
The Concession includes the maintenance of all the works
executed by the Company under conditions and standards
stipulated in the Bidding Terms and Conditions for the Stages
of Construction and Operation.
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