Colombia highway – financing secured

The complete financing for the Autopista al Mar 1 highway project in Colombia has now been secured. Loans of US$713 million from eight banks, seven of which are international institutions, will pay for the PPP project. Firms involved in the project include the Austrian contractor STRABAG and the Spanish firm Sacyr, as well as the local company CONCLAY. Construction work is well underway for the project, which is around 30% complete. Once the highway opens for traffic, it will improve transport and trade in
March 21, 2019 Read time: 1 min

The tender process is open for the study into the planned Paso Las Lenas tunnel to connect Chile and Argentina. The study is expected to cost US$1.55 million and will be paid for by Chile’s O’Higgins Region. The tunnel will be some 11.5km long and the portal in Chile will be at an altitude of 2,020m while the entrance on the Argentine side will be at 2,364m, allowing it to be used throughout the year. The tunnel has an expected pricetag of some $1.67 billion to build, with the countries sharing the construction costs. This project to improve transport between the two countries will also include building 13km of road in Chile and 60km of road in Argentina’s Mendoza Province.

Finance & Funding

Related Content

  • Chile’s road development work continues
    February 6, 2018
    Chile’s ambitious road development programme is continuing. Work is starting on the Americo Vespucio Oriente (AVO 1) highway project. This is expected to cost US$926 million and will provide an improved connection from the El Salto area to Principe de Gales. The work should be completed in the second half of 2021. However a number of complaints have been made with regard to the project, which could delay the timeframe once more. The project was originally due to open for traffic in 2020. Meanwhile Chile’s
    Read More
  • Colombia’s infrastructure development
    December 5, 2013
    Colombia is benefiting from heavy investment in infrastructure that is helping boost the country’s economy. At the same time, tough policies have also reduced crime considerably and helped stabilise economic development. This process of economic growth and overall stabilisation looks set to continue as the Colombian Government has recently unveiled its plans for highway construction over the next 10 years. This infrastructure programme is also tipped to raise demand for surety products owing to government c
    Read More
  • Consortium wins third Bosphorus bridge deal
    December 3, 2012
    A consortium formed by ICTAS of Turkey and the Italian firm Astaldi has won a tender to build a third suspension bridge over Istanbul’s Bosphorus. Despite criticism from planners and environmentalists, the 1.3km structure, the longest over the strait, has been given the go-ahead by Turkey’s Transport Minister, Binari Yildirim. A joint venture of local company IC Içtas Insaat and Italian Astaldi has won the tender for the project, and Minister Yildirim is reported as saying the bridge would be built in three
    Read More
  • Latin America road safety plan proposed
    June 14, 2019
    A new report suggests key strategies to cut road deaths and injuries in Latin America. The report was commissioned by Bloomberg Philanthropies and shows that more than 25,000 Latin American lives could be saved and over 170,000 serious injuries prevented by 2030 if United Nations (UN) vehicle safety regulations were applied by four key countries in the region—Argentina, Chile, Mexico and Brazil. The report was prepared by the UK-based Transport Research Laboratory (TRL). The aim of the study was to estimat
    Read More

Highlighted Content