This article is part of a daily series of MegaProjects articles. If you want to know more about PPP projects with a considerable size visit our MegaProjects section. You can receive them by email on a daily basis.

Colombia's National Infrastructure Agency (ANI) has announced the financial close to develop the Loboguerrero - Mulaló and Cali - Dagua - Loboguerrero corridors PPP project located in the department of Cauca Valley.

The funding commitments, which have reached a total amount of COP650.663 millions (US$221 million), have been issued by Credit Agricole Corporate & Investment Bank New York Branch.

As we reported in December 2014, the project was awarded to "Concesionaria Vial del Pacífico", a consortium composed by Estudios y Proyectos del Sol EPISOL S.A.S. (60%) and Iridium Colombia Concesiones Varias S.A.S. (40%). The team beat out competition from the two other shortlisted bidders:

• Strabag-Concay - [Strabag AG (70 %) and Concay S.A. (30 %)]
• VINCI del Pacífico - [Vinci Concessions S.A.S.(33.34 %), Constructora Conconcreto S.A. (33.33 %), CASS Constructores y Compañía S.C.A. (13.33%), and Carlos Alberto Solarte Solarte (20%)]

The 32 km road PPP project involves the financing, construction, rehabilitation, improvement, operation and maintenance of the infrastructure. The project includes the development of 9 tunnels with a total extension of 12.2 km, and 31 bridges with a total extension of 2.5 km.

The project aims to improve the commercial transport from the south to the port of Buenaventura.