Autopista al Mar 1 reaches long-term financial close

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Devimar, the concessionaire for the PPP toll road project "Autopista al Mar 1", has successfully concluded long-term financing with a volume of 2.2 trillion Colombian pesos (USD 713 million). ANI (Agencia Nacional de Infraestructura) awarded the project to Devimar in 2015 as part of a 25-year concession.

The sponsors of the project include SACYR (from Spain, 37.5%), STRABAG (from Austria, 37.5%) and CONCAY (from Colombia, 25%).

The following national and international banks participated in the financing: Financiera de Desarrollo Nacional – FDN (Colombia), Instituto de Crédito Oficial – ICO (Spain), KfW IPEX-Bank (Germany), BID Invest (multilateral bank), CAF (Latin American development bank), Sumitomo Mitsui Banking Corporation – SMBC (Japan), Société Générale (France), BlackRock (Debt Fund Colombia).

The "Autopista al Mar 1" project is currently under construction, with 30% overall progress. Work is currently underway at around 130 sites, which directly or indirectly create 2,200 jobs.

Desarrollo Vial al Mar S.A.S., also known as Devimar, is the concession company entrusted with the design, financing, environmental and social management, land acquisition, construction, rehabilitation, operation and maintenance of the “Autopista al Mar 1” project. 13 municipalities fall under the scope of the project: Medellín, Ebéjico, San Jerónimo, Sopetrán, Santa Fe de Antioquia, Buriticá, Giraldo, Cañasgordas, Anzá, Concordia, Betulia, Salgar and Venecia.

The main activities include the construction of a motorway between Medellín and Santa Fe de Antioquia, the construction of a 4.6 km tunnel parallel to the existing Túnel de Occidente, the rehabilitation of the Santa Fe de Antioquia - Peñalisa route, the operation and maintenance of the Santa Fe de Antioquia - Cañasgordas route and the 176 km concession route.

This project will bring many benefits to the region and the country, including improved road safety, reduced transport costs and travel time between Medellín and the port of Urabá on the Caribbean coast of Colombia.

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