Grupo Aeroportuario del Caribe S.A.S has closed project financing for the Ernesto Cortissoz - Barranquilla International Airport concession in Colombia.

According to sources, project financing has been provided by, among others, Corporación Andina de Fomento, Banco de Occidente, Banco Sudameris, Bancolombia, and Davivienda. The the total project investment is estimated at P$345 billion (US$109.8 million).

Grupo Aeroportuario del Caribe S.A.S, is a consortum composed of  Valores y Contratos - Valorcon (41,5%); Equipo Universal (41,5%) and Inversiones Millenium Azipo (17%). The team signed the project contract on 5 March 2015.

The public private partnership contract includes the design, construction and maintenance of the international airport. Specifically, it involves the upgrade of the 15,000 m² passenger terminal, a 5,000 m² extension at the international zone, total pavement upgrade, the upgrade of the lighting system, the provision of new equipment and the development of a new cargo terminal, among others.

Ernesto Cortissoz International Airport is located in the suburban municipality of Soledad. This airport serves as a focus city for Avianca. It is capable of accepting wide bodied aircraft such as the Boeing 747,Boeing 767, and Airbus A340. It is the most important airport in terms of infrastructure in the northern part of the country and the first in terms of cargo movements. The facilities currently manage about 2.4 million passenger per year.