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Colombia's National Infrastructure Agency (ANI) has announced a financing package for the Connection North highway concession.
Project financing will be provided by the following banks: Sumitomo Mitsui Banking Corporation, Bancolombia, Davivienda and Financiera de Desarrollo Nacional (FDN).
The project was awarded in October 2015 to the consortium Autopistas del Nordeste SPV, which is composed of Colombia's KMA Construcciones Colombia (25%), Spain's Ortiz Construcciones y Proyectos (25%), Colombia's Equipo Universal S.A (25%), and Colombia's Valores y Contratos S.A. (25%).
The 145 km road project will link Remedios and Caucasia. The project involves, among others, the development of a 490 m tunnel, the Caucasia bypass and 96 bridges.
The total project investment is estimated at P1,100 billion (US$335 million).
The project is part of the nine concessions that comprise Autopistas para la Prosperidad highway project. Total investments will exceed 13 trillion pesos 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.
We have recently reported on several transport PPP projects in Colombia: