Autopistas del Atlántico S. A., a consortium composed by C.I. Grodco of Colombia and PRODECON of Honduras, has achieved commercial closure of the Touristic corridor highway PPP project in Honduras.
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.
The total project investment is estimated at US$260 million. The US$140 million financing for the project will be provided by JPMorgan Chase Bank and Ficohsa Bank.
In mid November 2013, project's investors and lenders applied for Multilateral Investment Guarantee Agency (MIGA) 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 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.