Carlos Ugarte

Mr. Ugarte has over 23 years of multinational experience in Project Finance, Business Development, Finance and Management. Since May 2006, Mr. Ugarte has been Cintra´s Director of Business Development for North America. Mr. Ugarte is responsible for the coordination of all internal and external resources effectively preparing and submitting bids for Cintra in this region. Some of the most notable bids led by Mr. Ugarte are North Tarrant Express (Fort Worth), I-635 LBJ (Dallas) and SH-121 Dallas (Dallas). From 1998 to March 2006, Mr. Ugarte was the CFO for Cintra Chile. Cintra Chile is currently the biggest infrastructure concessions holding in the country with investments over USD 1.5 billion and more than 800 miles of toll roads under concession. Mr. Ugarte was instrumental in the structuring of the initial project finance of Cintra´s concession in Chile which he successfully managed. During his tenure as CFO, Mr. Ugarte also designed, led and implemented the start-up of the Operational Holding Structure and the final business model used by Cintra Chile to operate and manage its consolidated concession investments. In addition, Mr. Ugarte has directed complex project financing transactions, some of which are cornerstone solutions for the Project Finance Industry worldwide. Among these is the Autopista del Maipo Project Finance (USD 421 million, UF 6 million and a Cross Currency Swap for USD 700 million) which has received two international awards (2004 Latin American Refinancing Deal from Project Finance Magazine and 2004 Best Project Finance Deal from Latin Finance Magazine). From 1994 to 1998, Mr. Ugarte was the CFO at Soquimich Nitratos S.A., a world leader of specialty chemicals and fertilizers where he managed more than 30 global subsidiaries and more than 200 people. From 1992 to 1994, Mr. Ugarte worked at Credit Lyonnais Securities New York as Vice President of Corporate Finance where he managed the structuring of debt (144A bonds) and equity transactions (ADRs) for Latin American corporations. From 1986 to 1989, Mr. Ugarte worked for the Chilean Ministry of Finance as a key member of the team responsible for leading economic reforms that later became the platform for the nation’s current economic success. One of Mr. Ugarte’s major accomplishments was as leader of the team that established Chile’s first PPP laws. As a result, today Chile’s Public Private Partnerships account for more than USD 20 billion, with most airports, ports and more than 50% of the main highway system of the country under PPP contracts. Mr. Ugarte holds a degree in Economics and Business from Universidad de Chile and a Masters in Business Administration majoring in International Business, as well as a Masters of Science and Business Administration majoring in Finance, both from the University of Southern California, Los Angeles.