Financial close reached for Honda - Puerto Salgar - Girardot corridor PPP

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Financial close reached for Honda - Puerto Salgar - Girardot corridor PPP

Colombia's national infrastructure agency ANI and the consortium formed by Mario Alberto Huertas Cotes and Constructora MECO SA Sucursal Colombia have achieved financial closure for the Honda - Puerto Salgar - Girardot corridor PPP.

The final financial closure was achieved with a total debt of 1,070 billion pesos (US$366.2 million), with a component in Colombian pesos of 64%, amounting to 685 billion pesos (around US$230.2 million) and the remaining, US$136 million, in dollars.

The Central American Bank for Economic Integration (CABEI) financed the US$-denominated debt. And the peso-denominated debt was financed by a group of banks belonging to Grupo Aval: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas.

The total project investment is estimated at US$556.7 million. 

The project, which was the first to receive bids under its fourth generation (4G) concession program, includes the design, rehabilitation, duplication, financing, operation and maintenance of the Honda - Puerto Salgar - Girardot corridor.

The project will have a total length of 194 km along the areas of Tolima, Caldas and Cundinamarca in Colombia:

  • 22 km of new road construction in dual carriageway (including the new bridge between Girardot and Flanders),
  • rehabilitation of 33 km of roads,
  • upgrading of 135 km road and
  • 4 km belong to the new bridge between La Dorada and Puerto Salgar.

The 4G highway contracts program covers 47 projects worth US$25 billion over eight years.

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