Odinsa closes financing for Aruba road PPPProjects

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Odinsa closes financing for Aruba road PPPProjects

Grupo Odinsa has closed financing for the Green Corridor public private partnership (PPP) project in Aruba.

Project financing will be provided by Deutsche Bank. The $58.7 million loan has a tenor of 18 years and was signed on July 15th. AIB Bank NV is the administrative agent.

The project involves construction of a 2x2 arterial road over a distance of about 7 km, renovation of the existing road over a length of about 17 km in which 13 existing intersections will be designed and reconstructed and 2 overpasses will be designed and build. Furthermore, a bike road of approximately 15.4 km will be designed and built along almost the entire Watty Vos Boulevard route.

The project encompasses the design, build, financing and maintenance (DBFM) of the route. The contract will be for a period of 20 years after the completion of the construction project.

The Government of Aruba wants to realize the following objectives with the Watty Vos Boulevard project:

  • Improve traffic flows and shortens travel times and improves road safety through delivery of new infrastructure between Reina Beatrix and L.G. Smith Boulevard / J.E. Irausquin Boulevard
  • Enable and facilitate the relocation of the existing port of Aruba to Barcadera
  • Improve the appearance and traffic safety in low-rise hotel zone

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