Autopistas del Atlántico S. A., a consortium composed by C.I. Grodco of Colombia and PRODECON of Honduras, has achieved financial closure of the Touristic corridor highway PPP project in Honduras.
The total project investment s estimated at US$286 million. JP Morgan Chase, Banco Ficohsa and Infrastructure Financing Interamerican Corporation (CIFI) have provided financing for the project. The project is backed by a Multilateral Investment Guarantee Agency (MIGA)'s guarantees for a period of up to 20 years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.
The 220 kilometer toll road in northern Honduras connects the cities of San Pedro Sula, La Barca, El Progreso, Tela, and La Ceiba. The construction works for the project consist primarily of rehabilitation works for 214 kilometers of roads, 99 kilometers of which will be expanded from two to four lanes, and the construction of a new 5.9 kilometer four-lane bypass.
The project will be developed on a design, build, finance, operate, and maintain (DBFOM) basis. The contract will have a period of 30 years.
Autopistas del Atlántico S. A. achieved commercial closure for the project in early 2015.
The project will improve connectivity across the main cities in northern Honduras, which will provide opportunities to further develop the country's transport sector and commerce, and potentially the tourism sector in the northern part of the country.