The consortium formed by construction companies Mario Alberto Huertas Cotes, Constructora Meco and Construcciones El Cóndor has hired Goldman Sachs as bond arranger to finance the Pacifico 3 toll road in Colombia. 

This could lead to the first sale of bonds abroad associated to the 4G road PPP program.

The consortium that is building the Pacific Highway 3, in Antioquia, will have a series of meetings with bond investors in Latin America, the United States and Europe, according to the same source.

The road project is part of the 'Autopistas de la Prosperidad' package. The package is formed by several highway PPP projects including the Pacific Connection highway concession 1, Pacific Connection highway concession 2 and Pacific Connection highway concession 3.

These road concessions will allow Colombia's Atlantic Coast and Antioquia to connect efficiently with the "Eje Cafetero" and the Cauca valley, decreasing in 7 hours the travel distance between Medellin and Buenaventura port.

Pacific Connection highway concession 3 project includes: La Pintada-La Felisa; La Felisa-Irra; La Felisa-Asia; Asia-La Virginia; Tesalia by-pass; and Irra-Tres Puertas. This concession has an investment of US$647 million and it has 231 kilometers, including 26 bridges and 3 tunnels.