Sacyr closes $520m financing on road PPP in Colombia
Sacyr Concessions, via the Unión Vial Río Pamplonita concession, has secured the financing of the concession for the Pamplona-Cúcuta divided highway in Colombia for US$ 520 million with eight international and one national financial bodies: JPMorgan Chase Bank, FDN (Financiera de Desarrollo Nacional), Deutsche Bank AG, ICBC (Industrial and Commercial Bank of China), Bank of China, ICO (Instituto de Crédito Oficial de España), MetLife, MUFG Bank and Société Générale.
This transaction sees Sacyr securing the financing of its four 4G projects in Colombia for over US$ 2 billion.
The closure guarantees the investment required to build this 62.2-kilometer road project, located in the department of North of Santander. At present, the project is in the construction stage, with total progress of 14%. Operations are undergoing on 60 work fronts, generating 2,224 direct and indirect jobs, over 70% of which belong to the region.
The concession has already carried out more than 90 socio-environmental and sales training and promotion activities that have directly and indirectly benefited over 2,400 people.
The toll-road project, part of the third wave of Colombia's 4G program, involves the upgrade and operation of a section of road in the Department of North Santander, connecting the cities of Pamplona and Cúcuta. This will include:
- New road construction: 50.2 km (divided and undivided highway).
- Rehabilitation: 72.2 km of existing road (between Pamplona and a section of Betania, Los Patios).
- Two tunnels. 1.4 km and 1.1 km long
- Bridges: 25 vehicle, 4 pedestrian and rehabilitation of 23 existing bridges
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