The two road PPP projects were signed on 12 September 2014 in Antioquia.
Pacific Connection highway concession 1 was awarded on 4 June 2014 to a consortium composed of Iridium Concesiones de Infraestructuras (40%) and Episol SAS (60 %), which are the infrastructure development arms of ACS Group (Spain) and Corficolombiana (Colombia) respectively.
The project includes the stretch Ancón Sur - Camilo Cé - Bolombolo in the region of Antioquia. The project involves a total investment of P1.79 billion (US$943 million) and includes the construction of a dual carriageway with a length of 31Km and the upgrade and maintenance of the current road. The project also includes construction of 42 bridges and two tunnels (5.7Km in total).
Pacific Connection highway concession 2 was awarded on 22 May 2014 to a consortium composed of Grupo Odinsa S.A. (25%), Mincivil S.A (21.15%), Construcciones el Condor (21.15%), Termotécnica Coindustrial S.A (13.50%,) Icein S.A.S (9.20%) and Mota Engil Engenharia e Construcao S.A (10%).
The project includes the stretches of Bolombolo-La Pintada (44km) and La Pintada-Primavera (54km). The project cost is estimated at P910,000 million (US$470 million). The project also involves the construction of 69 bridges and a 2.5km tunnel in Mulatos.
These two road PPP projects are part of the nine concessions that comprise Autopistas para la Prosperidad highway project. Total investments for the project will exceed 13 trillion pesos (US$7.1 billion) and will feature contributions from the national government through the ANI, the Government of Antioquia and the Government of Medellín.
These road concessions will allow Colombia's Atlantic Coast and Antioquia to connect efficiently with the "Eje Cafetero" and the Cauca valley, decreasing in 7 hours the travel distance between Medellin and Buenaventura port.
As part of the Autopistas para la Prosperidad, ANI awarded on 15 July 2014 the Pacific Connection highway concession 3 to the consortium formed by Mario Alberto Huertas Cotes (75%) and Constructora Meco Sociedad Anónima Sucursal Colombia (25%).