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The Colombian government has approved a new PPP road that will benefit the Caribbean Region.

More concretely, the Vice President Germán Vargas Lleras informed that the Council of Ministers and the National Council of Economic and Social Policy (Conpes) approved the Ruta Caribe 2 (Caribbean Route 2).

The Ruta Caribe 2 Highway, with an estimated investment of COP1.63 trillion (US$514 million), will operate around 279 Km of roads.

The initiative, presented by the firm of Menzel Amín (KMA Construcciones) contemplates the construction of 100.5 kilometers of dual carriageway, 23.27 kilometers in by-passes, two bridges and six junctions. It is estimated that during the development of the works will be generated 4,800 new jobs.

The following populations will benefit from this PPP: Baranoa, Campeche, Sabanalarga and Luruaco, in the department of Atlántico; and Santa Catalina, Bayunca, Cruz del Viso and Arjona, in Bolívar.

Although APP-IPs do not require State resources, the bidding process initiated by the National Infrastructure Agency (ANI) is in case other proponents are interested in this initiative and compete with the originator company.

Vargas Lleras stated:

"It is very satisfying informal that the new Ruta Caribe 2 Highway follows its course efficiently. Today the Council of Ministers and the Conpes gave way to this project that will improve the connectivity and competitiveness of the Colombian Caribbean Coast."

The project is part of the 4G highway projects. With Ruta Caribe 2 there are already 12 PPPs that are underway: Ibagué - Cajamarca, Malla Vial del Meta or Chirajara - Villavicencio, among others.

In November, we also reported that ANI announced the achievement of the financial close for the Sea highway 1 ("Autopistas del Mar 1") and the launching of a tender process to select candidates for the Pamplona Cucuta road PPP.