FDN approved debt commitment for Cartagena - Barranquilla road
FDN has confirmed its participation in the "Cartagena-Barranquilla and Circunvalar de la Prosperidad" road project, with an investment of US$71 million, which means 15% of the total debt.
FDN involvement in the project will help to mobilize other financing sources. The concessionaire for the project, a team composed of Colombia's Mario Alberto Huertas Cotes and Costa Rica's Constructora Meco, is expected to launch project bonds to finance the project.
We reported in August 2015 that Goldman Sachs is also financing the project as part of a package to finance the Girardot-Puerto Salgar, Cartagena - Barranquilla and Pacific Connection highway concessions.
Cartagena-Barranquilla corridor project involves the design, construction, financing, operation and improvement the new road. The term of the concession contract will be 26 years.
The project is divided in two sections. The first section is located in the route 90 A (Cartagena - Barranquilla). Between the departments of Bolívar and Atlántico, the highway will have a length of around 110 km. While the second section includes the construction of a dual carriageway with a length of about 37 km, between the municipalities of Malambo and Puerto Colombia.
The total project investment is estimated at US$844 million.
Country news
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May 04, 2016
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April 27, 2016
CSS Constructores wins road PPP in Colombia
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April 25, 2016
Colombia´s Ani approves unsolicited proposal accesos Norte de Bogota
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Five companies compete for Bogota Girardot PPP
Colombia's National Infrastructure Agency (ANI) has recently announced the companies competing for the tender process for the construction of the Bogotá-Girardot PPP-PI project, which is a public-private partnership under a private initiative scheme. Read more -
April 06, 2016
FC rejected for Magdalena river PPP
The Navelena consortium, which is formed by Odebrecht (87%) and Colombia's Valorcon (13%) recently submitted a financial plan for the project but the Government considered that the plan is insufficient and it does not prove that financial close will be reached. Read more
