John Laing Group has completed the acquisition of a stake and achieved financial close on the Colombian road project. The company owns 21.15% of the Pacifico 2 road PPP project, located 20 kilometers south of Medellin. The Group acquired an interest from Construcciones El Condor for a total of COP151 billion (US$40,95 million) in a deal announced on January 5. Funding for the project is in place and construction can begin.
Pacifico 2 project involves the construction of an 82-kilometer dual carriageway and two tunnels, as well as an upgrade of 54 kilometers of the existing road. The public-private partnership has a concession period for operation until 2043. Once completed, the road will provide a connection between some of Colombia's important cities, including Medellin and Cali, and Buenaventura port. The majority owner of the project is Odinsa SA, which owns 78.85% of the shares.
Sacyr Concesiones issues bonds for USD209 million to refinance the Montes de María roadway in Colombia.
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Read moreThe Magdalena River PPP project is advancing in its structuring stage and, as established in the schedule of activities, will continue with the bidding stage
Read moreThe firm Obrascón Huarte Laín SA OHL SA Colombia Branch won the public call made by the National Government in order to build Phase 1 of the works of earthworks, drainage and adaptation,...
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