SMBC to finance Autopista al Mar 2 in Colombia

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SMBC to finance Autopista al Mar 2 in Colombia

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Project company Urabá SAS has secured financing for the Sea highway 2 (Autopistas al Mar 2) from Japan-based Sumitomo Mitsui Banking Corp. (SMBC).

This concession includes 254 km, 11 tunnels and 59 bridges. Specifically, the concession includes the development of a 17.7-km new road between Uramita and Dabeida, the upgrade of a 30.5-km road between Uramita and Cañasgordas, the upgrade of a 109 km road between Necoclí and El Tigre and the upgrade of 97-km road between  Dabeiba - Mutatá and El Tigre.

The estimated investment for the project is COP1.5 trillion pesos (US$508 million).

This project seeks to improve the connection of the city of Uraba Medellin and the Pacific Coast.

The Ministry of Transport of Colombia and the national infrastructure agency, ANI, launched the tender for the process in October 2013 as part of 'Autopistas de la Prosperidad' package. This package also includes the Magdalena River highway 1.

As we reported in September 2015, the project was awarded to a China Harbour-led consortium. The team is composed of China Harbour Engineering Company Limited Colombia (30%), SP Ingenieros S.A.S. (20 %), Sonacol SAS (20%), part of Grupo Empresarial LHS, Pavimentar S.A. (15 %), Unidad de Infraestructura y Construcciones Asociadas S.A.S. (10 %) and Termotecnica Coindustrial S.A (5 %).

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