John Laing completes acquisition of 21.15% stake in Pacifico 2 road PPP

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

John Laing Group has completed the acquisition of a stake and achieved financial close on the Colombian road project. The company owns 21.15% of the Pacifico 2 road PPP project, located 20 kilometers south of Medellin. The Group acquired an interest from Construcciones El Condor for a total of COP151 billion (US$40,95 million) in a deal announced on January 5. Funding for the project is in place and construction can begin.

Pacifico 2 project involves the construction of an 82-kilometer dual carriageway and two tunnels, as well as an upgrade of 54 kilometers of the existing road. The public-private partnership has a concession period for operation until 2043. Once completed, the road will provide a connection between some of Colombia's important cities, including Medellin and Cali, and Buenaventura port. The majority owner of the project is Odinsa SA, which owns 78.85% of the shares.

Share this update