Refinancing of a major road project in Colombia achieved
Autopistas al Mar 2 road PPP project in Antioquía, Colombia has achieved refinancing and presented the credit contract to the National Infrastructure Agency (ANI) what certifies its financial closure and also guarantees the execution of the works outlined in the concession contract. The refinancing debt package is US$ 654 million, out of which Colombia's development bank Financiera de Desarrollo Nacional (FDN) granted senior debt loan of up to US$ 150 million. Other funding was provided by the participation of China Development Bank with US$ 418 million and Sumitomo Mitsui Banking Corporation with US$ 84 million.
The contracted value of the project is COP 2.57 billion (US$ 900 million). One of the project owners is China Harbor Engineering Company Limited, a subsidiary of China Construction Communications Company, considered the fourth largest company in the world in engineering and construction. The project is their first in Colombia.
The project's main objective is to generate an interconnection by road between the city of Medellín and the main highway concessions in the country, and connect it with the commercial exchange centers of the Caribbean Coast, the Pacific Coast, as well as with the river Magdalena, reducing travel time between Medellín and Necoclí from eight to four hours. The project will be integrated with roads such as Highway 1 to the Sea, Toyo Tunnel and Pacific Highway 1, 2 and 3 will facilitate foreign trade to and from the Coffee Axis.
Autopistas al Mar 2 includes a total of 254 kilometers, of which 17.7 kilometers is single carriageway, 54 bridges and 19 tunnels including four false tunnels currently being built, as well as works to operate and maintain the entire corridor.
The development entails upgrading a highway section between Cañasgordas and Uramita (28km); constructing a new highway segment between Uramita and Dabeiba (17.7km), while operating and maintaining the existing road connection; upgrading the road linking Dabeiba to Mutatá (53km); rehabilitating the highway linking Mutatá to El Tigre (47km); and operating and maintaining the existing highway between El Tigre and Necoclí (106km), which is situated on the coast of the Gulf of Urabá.
Country news
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July 19, 2019
Financial Close for USD 561 million highway PPP in Colombia
The Concessionaire Vial Union del Sur, led by Sacyr Concesiones, has closed the financing of the Rumichaca-Pasto highway PPP project for a total of 1.8 billion pesos (USD 561 million). The closure guarantees the investment required to successfully carry out this 83 kilometer long road project, located in the southwest of the country. The project includes the development of 7 tunnels and about 30 bridges. It is expected that the travel time between Rumichaca and Pasto will be reduced from 2 hours to 1 hour.
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June 18, 2019
USD 680 million railroad development in Colombia
National Infrastructure Agency (ANI) in Colombia is planning a tender of Chiriguaná - Dibulla rail corridor on PPP procurement model. The project involves the development of 328.6 km long rail corridor between the municipality of Chiriguaná in the Department of Cesar and the municipality of Dibulla in the Department of La Guajira.
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June 14, 2019
Bidding for a metro line in Colombia to open soon
The Bogotá Metro Company in Colombia has announced that the international public tender for the construction of the first line of the Bogota metro will be opened on June 28. The six prequalified consortiums will receive the terms of reference and appendices, giving way to the last stage of the process of selecting the consortium which will build and operate the First Metro Line (PLMB). The estimated investment for the project is US$ 12 billion.
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April 04, 2019
Six bidders move to final stage for Colombia´s first metro line
State-owned company Metro de Bogotá has selected six international consortia out of seven bidders that submitted their certifications and credentials on February 25 to proceed with the last phase of the tender for the development of a Bogotá Metro Line 1 project the under Public-Private Partnership (PPP) scheme in Colombia.
The six groups are given four weeks to present comments and suggestions to the texts of the specifications, the contract minutes and the appendices that contain the technical specifications of the project. After the final documents will be published, the six teams will have to structure and present their respective offers in August. The awarding of the contract is expected to be done between September and October.
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March 04, 2019
Seven bids for US$4.4 billion Bogotá metro PPP
The Bogotá Metro Company (EMB) has announced that seven consortia have submitted bids to prequalify to design, partially finance, construct, operate and maintain the first line of the city's metro system.
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