Financing agreement signed for multimillion Road PPP project in Colombia
The IP Expansion to Third Lane Double Calzada Bogotá-Girardot, which is part of the Fourth Generation (4G) projects of the National Government executed by the National Infrastructure Agency (ANI), reached a financing agreement for COP 700 billion (USD191.35 million) that guarantees its progress and financial consolidation.
The financing agreement was signed with Credit Agricole Corporate and Investment Banking, Banco Santander and MUFG Bank and represents a milestone for the economic reactivation and competitiveness of the country.
Precisely, the resources will be invested in the installation of camps, the purchase of machinery and equipment for the progress of the works, which will be reflected in the generation of employment and dynamization of the economy; in fact, it is expected to reactivate around 1,350 jobs in the region.
It is important to note that each of the international financial entities participated in equal parts in the operation, which was closed in Colombian pesos and without the use of corporate guarantees by the shareholders of the concession: Constructora Conconcreto and VINCI Highways, a subsidiary from VINCI Concessions.
The fourth-generation (4G) Bogotá-Girardot Third Lane project, which was reactivated by the National Government on February 12, includes the rehabilitation of the dual carriageway in a length of 144.8 kilometers and the construction of the third lane in 69 km.
The project will benefit more than one million people in the 13 municipalities on which it has an impact and will improve the mobility of more than 17 million vehicles that travel annually through this road corridor. Mainly the inhabitants of the municipalities of Soacha, Silvania, Granada, Fusagasugá, Melgar, Ricaurte and Girardot will benefit, as well as the users who daily pass through the sector.
Currently, the project has general physical progress of 2.86%, which corresponds to the execution and completion of the works of Functional Unit 8, between El Muña and Soacha.