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Market survey to identify points of improvement and provide recommendations to be implemented in the new final version of the contract for the Huancayo-Huancavelica Railway Project (PPP Project).

Description:  Detailed market survey that allows defining the points of improvement and providing objective  recommendations to be implemented in the new Final Version of the Contract (FVC), risk analysis, Project investments or other variables of a technical, legal, economic and financial nature of the Project, in order to substantially increase the probability of success in the next bidding process.

Client: PROINVERSIÓN with financing from the Inter-American Development Bank

Study of the road’s freight transport market competition in Uruguay.

Description: Study of the road freight transport market in Uruguay, characterizing demand and supply, market segments (relevant markets) and price formation. Analysis of the competitive strategies of the different players and the role that informality plays in these strategies. Discussion of public policy alternatives to encourage greater competitiveness in the sector and a reduction of informality, considering their eventual impacts on the profitability of companies, price formation, public finances and the safety of cargo and people.

Client: Inter-American Development Bank


Pre-feasibility study for the evaluation of the Uruguay River Waterway project (URW). 

Description: The study, commissioned by the Salto Grande Mixed Commission and the Uruguay River Administrative Commission, aimed to evaluate the viability of the project to create the URW.

The evaluation was carried out in 2 alternatives: the development of a Logistics Center in Uruguay for the mobilization of cargo, and the construction of a Bypass to the Salto Grande dam.

To achieve this objective, the demand generated by the project in each alternative was studied, in order to analyze whether the necessary investments are economically and financially feasible.

Client: CSI Ingenieros


Road Circuit 0, Uruguay: Demand study.

Description: Execution of the traffic demand study of Circuit 0. The current traffic and its recent evolution were first analyzed. Then traffic projections for cars, buses, medium, semi-heavy and heavy trucks were carried out for the next 20 years. In addition, the possibility of diverted traffic and the existence of alternative roads at the network level were considered.

Client: Consorcio del Litoral


Financing of Public Private Participation Projects. Lessons from Uruguay and recommendations for the region.

Description: Analysis of the financial closing stage of the PPP projects implemented in Uruguay. The preparation of general conclusions and common elements of the projects carried out, made it possible to identify the achievements and challenges of financing PPP projects. 

Client: RED APP- IDB through Universidad de la Republica (IECON)


Analysis of the budgetary impact of PPP projects in Uruguay.

Description: Evaluation of contractual alternatives for different projects in the road sector. The impacts were quantified in terms of the total expected cost of each one, and in turn, differentiating the budgetary cost vs the extra-budgetary cost.

Client:  Interamerican Development Bank


Investment needs in infrastructure.

Description: The economic growth experienced in Uruguay in recent years has led to a significant increase in the demand and supply of transport services. Investments have been made, but these have not yet been enough to cover all the needs.

Client:  Interamerican Development Bank


Strategic analysis of the expansion of road concessions paid by users.

Description: Evaluation of options to expand road concessions paid by users in Uruguay, in order to sustainably increase the resources available to the sector for the maintenance and development of the road network. An estimate was made of potential revenues that can be generated by different toll collection mechanisms, as well as price variants.

Client:  World Bank


Mobility Plan for Fray Bentos and smaller towns in Río Negro, Uruguay.

Description: Evaluate alternatives for the expansion and/or diversification of public transport in Fray Bentos and smaller towns in Río Negro. Solutions found can be adapted to other medium sized cities in the country.  

Client:  Local Government of Río Negro - Project financed by the Inter-American Development Bank (IDB)

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Feasibility study for the expansion of the Gonzalo Rodríguez Foundation to Central America.

Description: Feasibility study to address the current situation of road safety in a group of Central American countries to analyze the feasibility of the Foundation's installation. An action plan and recommendation policies were developed for the installation process.

Client:  Gonzalo Rodríguez Foundation 


Economic Valuation of Assets in the Uruguayan Coastal Zone.

Description: The main objective is to have an economic measure of the existing assets in the coastal strip of Uruguay, which will allow a comparison between the assets, and use it as an input to be able to detect the most vulnerable areas and consequently define where to apply measures and/or actions to adapt to Climate Change. The study focused on the following assets: urban land, rural land, marinas, commercial ports and tourist beaches.

Client:  Ministry of Housing, Use of the Land and Environment (in its Spanish acronym MVOTMA)

Report prepared by AIC Economia & Finanzas


Demand Study and traffic projection of the Road Circuit 1,2,3 and 5.

Description: Demand Study and traffic projection within the framework of Due Diligence to finance the Private Public Participation Contracts of Road Circuit Number 1, 2, 3 and 5.

Client:  CAF-AM


Feasibility, Financial and Environmental technical studies for the Viru Viru Airport Project in Bolivia.

Description: Socio-economic and territorial Study of the Viru Viru Airport Project. Diagnosis of the current situation of the infrastructure. Market Research. Analysis Framework of Public Policies, Air Policies and Government Action. Financial evaluation. 


Client: ECUATEST TIWA SRL, for Bolivian Airports Services (SABSA)


Pre-investment study for the design of a financing scheme for the implementation of a sanitation system in Termas del Daymán, Uruguay.

Description: Design of a financing structure for the construction of a sanitation system in Termas del Daymán. 

Client:  Ministry of Tourism


Socioeconomic evaluation - Improvement of accesses in the Rambla Portuaria of Montevideo, Uruguay.

Description: Socioeconomic evaluation for the improvement of access in Rambla Portuaria, which mostly include: Analysis of road demand associated with the project, analysis of traffic evolution, estimation of long-term traffic, supply study, socioeconomic evaluation, sensitivity analysis, results matrix.


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Pre-feasibility Study for the Esmeralda Corredor and HDM-4 training course in Ecuador.

Description:  Technical, economic, financial and environmental pre-feasibility study of the Esmeraldas Corridor in Ecuador in order to obtain CAF funding. The following tasks were performed: Socioeconomic and territorial study, Diagnosis of the Infrastructure current situation, demand study, price and socioeconomic evaluation with the HDM-4 software. 
A training course was then developed on HDM-4 software for Ministry of Transport and Public Works of Ecuador officers.


Client: ECUATEST TIWA SRL, for the Ministry of Transport and Public Works of Ecuador


Economic-Financial Evaluation of Waste Management Plan.

Description: Estimate of the volume of waste currently generated in Ciudad Vieja (Uruguay) and its main characteristics. In addition, a feasibility study was carried out to evaluate the economic and financial viability of the Management Plan and its specific objectives.


Report prepared by AIC Economia & Finanzas

Study of financial alternatives for infrastructure works in dairy farms in Uruguay.

Description: Analysis of the financing profile and evaluation of how the financial tools that adjust to the needs of the sector should be. With emphasis on the four strategic axes (effluent management, internal roads, energy efficiency, water and irrigation systems) of the Tambo Sustentable program.



Analysis of urban mobility in intermediate cities: Access to education: Is distance a determining factor?

Description: Research project which aims to address the universality of mobility in Uruguay. It was analyzed the relationship between students attendance and the travel distance to the nearest educational establishment (primary, secondary and tertiary education) on cities that have a population under 100.000. The results obtained allowed us to understand circumstances in which mobility, represents a restriction to access education. Finally, some policy guidelines were proposed to improve the situation.

Client:  Planning and Budgetary Office (in its Spanish acronym OPP) 

Report prepared by AIC Economia & Finanzas


Investment Evaluation and Demand Study - Logistic Pole Route 5, Uruguay.

Description: Analysis of the advantages of settling within an Industrial Park, emphasizing the geographical and commercial advantages presented by the Industrial and Logistics Park Route 5. 

Evaluation of the current and projected demand for the Logistics Park Route 5, presenting information on the evolution of land prices, rental prices, and sale of similar storage infrastructure in Uruguay.

Client:  Grupo Ras


Design of a development scheme for small and medium-sized companies, providers of building and maintenance services of departmental roads in Uruguay.

Description: Contribute to the design of a development scheme for construction SMEs, capable of providing building and maintenance services of rural roads in Uruguay. For this, the current situation of SMEs and departamental governments were studied. The final result was the preparation of proposals with recommendations for the program's guidelines.

Client:  Planning and Budgetary Office (in its Spanish acronym OPP) 

Report prepared by AIC Economia & Finanzas


Socioeconomic study to estimate the allocation of investments between the Sanitary Works of the State (in its Spanish acronym OSE) and  Montevideo Departamental Government for the final disposal work of the liquid effluents of the microregion Route 5 South.

Description: Socioeconomic evaluation for the allocation of investments of OSE and Montevideo Departamental Government  for the final disposal of liquid effluents.

Client:  DICA for  IDB 


Analysis of impacts on productive sectors and social actors by improvements in the infrastructure of medium-voltage power grids in rural areas.

Description: Development of a proposal of methodological aspects to be considered for the analysis of the impacts on productive sectors and social actors, by improvements in the infrastructure of medium-voltage power grids in rural areas. The main finding lies in the econometric estimation through a cluster analysis to determine the impact of the change in the connection. 

Client:  Ministry of Industry, Energy and Mining 


Analysis of the demand for services and potential development for the leisure port of Juan Lacaze (Puerto Sauce), Uruguay.

Description:  The study included a demand analysis of the leisure port of Juan Lacaze and defined the strategy for the potential development of thereof.

Client: National Development Agency (in its Spanish acronym ANDE) 


Comparative study of the regulations of the General Investment Promotion Regime for micro energy generation projects.

Description: The main objective was to make a comparative analysis of the tax benefits that can be achieved by companies in a project of similar characteristics, through Decree 00/2012 and 143/2018, which invest in micro energy generation projects. For this, case studies were analyzed and a simulation study was carried out using Crystal Ball.

Client:  Uruguayan Association of Renewable Energies


Feasibility study for the relocation of sawmills in the city of Tranqueras, Uruguay.

Description: Feasibility study for the relocation of sawmills located in the city of Tranqueras. As a result, inputs were provided to decision makers for sound management decisions, including potencial locations.

Client: Rivera's Timber Development Network (REDEMA) – Local Govenment of Rivera , Planning and Budget Office (in its Spanish acronym OPP) and Ministry of Industry, Energy and Mines (in its Spanish acronym MIEM)

Report prepared by AIC Economia & Finanzas


Business Plan and Executive Project for the transformation of CYSSA Club in Juan Lacaze as a strategic actor of local development, Uruguay.

Description: Formulation of an integral plan for the transformation of CYSSA Club in Juan Lacaze, including the institutional strengthening of the Civil Association CYSSA Club, the formalization of necessary organizational, legal and administrative changes. Diversify the offer of services and the business plan, developing a professionalized management model aligned with the development agenda. In order to carry out the study, interviews with relevant actors and surveys for market research were carried out.

Client:  National Secretariat of Sports

Report prepared by AIC Economia & Finanzas


Socioeconomic Evaluation of the Project for the Comprehensive Recovery of the Northern Coast in Salto, Uruguay.

Description: The main objective of the Project is the comprehensive recovery of the northern coast in Salto to return the natural and urban landscape attributes, from a strong intervention in the public space, promoting the coastal area as the largest collective space of the city.  In this context, a diagnostic assessment, demand study and socioeconomic evaluation were carried out, in order to obtain ​ funding from the IDB.

Client:  Planning and Budget Office (in its Spanish acronym OPP) 


Socioeconomic evaluation for the projects of Urban Basin of  La Esmeralda stream investment project of Laureles stream, in Fray Bentos, Uruguay.

Description: The lack of sanitation in the Urban Basin of La Esmeralda stream and Laureles stream, led to the need for socioeconomic evaluation of the projects in order to gain access to funding from multilateral agencies. 

Client:  Local Government of Río Negro


Evaluation of the Project for the Reconversion of the former Fray Bentos Industrial Landscape Plant into a conference and events room for its presentation to the MERCOSUR Structural Convergence Fund (FOCEM).

Description: Demand study, socioeconomic and financial evaluation of the project for its subsequent presentation to a multilateral organization (FOCEM).

Client:  Local Government of Río Negro

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Diagnosis of the current market situation of the National System of Guarantees (in its Spanish acronym SiGa) and recommendations to enhance the use of the tool.

Description:  Fully integrated diagnosis of the less SiGa use. The study included an analysis of macroeconomic factors, as well as possible problems of the tool design. 

Interviews were held with financial institutions and business associations. Also, a survey was done on SiGa users. Finally, it was concluded with a series of recommendations regarding future interventions to enhance the tool use. 

Client: CONAFIN AFISA / CND (National Corporation for Development in Uruguay)


Study of the elderly care sector within the framework of technological development and environmental sustainability.

Description: Preparation of the sectoral study and proposal of recommendations for technological development and environmental sustainability. A survey was done on nursing homes in Uruguay, in order to identify tools that allow the improvement of current problems in the sector. 


Report prepared by AIC Economia & Finanzas


Pre-feasibility study for the remodeling of Salto Racetrack.

Description: The study consisted in the elaboration of the economic studies to show the viability of the project. The following activities were carried out: amounts and form of financing, identification of the problem and alternatives, demand estimation, estimation of direct beneficiaries, estimation of fund flow, comparative economic analysis of costs of the alternatives, definition of Logical Framework Matrix, analysis of institutional sustainability, technical formulation of the project, among others.

Client:  Salto Automobile Club

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Business Plan for the possible incorporation of a Neck & Neck franchise business in Montevideo, Uruguay.

Description:  Business Plan including the following: children clothing market characterization in Uruguay, interviews held with experts in the field, potential customers segments, action plan, possible strategies and a financial plan. For this, sources of income were analyzed, financial model was elaborated, as well as the risk analysis. Currently the project is successfully implemented.


Client: Mainau Group



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• Pre-feasibility studies
• Demand studies
• Financial evaluations
• Business plans


• Investment projects
• Business structuring
• Policy evaluation
• Training courses

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