Financial close in place for Honduras road PPP

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Financial close in place for Honduras road PPP

The winning consortium Concesionaria Vial Honduras S.A. de C.V. (COVI) has received a US$120 million loan for the Corredor Logistico highway concession in Honduras

The consortium is formed by Hidalgo e Hidalgo S.A. de C.V. from Ecuador and Construcción y Administración from Perú.

The US$120 million loan has been underwrited by the government of Honduras. The financing is being provided by Banco Ficohsa and the Davivienda de Honduras Group.

The new road will link the Puerto Cortés Goascorán and the south of Honduras. The project involves the development of a new 88 km road, the upgrade of an existing 161 km road the maintenance of a total of 391.8 km between the stretches of Goascorán- Villa de San Antonio and Tegucigalpa- Puerto Cortés. The concession period is 20 years.

The tender process was issued on 22 November 2011. The project was awarded on 29 March 2012.

The new for lane road is expected to be an important alternative to the Panama channel.

 

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