Mexico has awarded a $491m contract to build a new tolled highway section in its capital to a joint venture firm.

Controladora Via Rapida Poetas, a 50/50 joint venture company of Spanish firm OHL and local company Copri, will implement the project.

The planned 5km link is intended to bring down congestion in Mexico City, according to

The construction work is scheduled for completion by 2012.

The contract with the joint firm is expected to be for a 33-year term.