Colombian infrastructure projects will be boosted with new budget.
The Colombian Government is setting out its plans for its next phase of infrastructure development works. This will form part of Colombia's 5G programme for infrastructure expansion. A budget of US$5.75 billion has been set for the works, which will see new highways, new railways, an airport upgrade and a new canal being constructed.
Highway works being carried out in Colombia as part of the 5G programme will be worth around $955.7 million. A new highway will be built between Sabana de Torres and Curumani, with another new highway being constructed to connect Puerto Salgar with Barrancabermeja. Meanwhile road improvements will be carried out between Buenaventura and Buga, as well as Santuario and Cano Alegre.
Meanwhile, the road firm Concesionaria Vial Union del Sur, which is owned jointly by Sacyr Concesiones and Sudinco, now has funding for the Rumichaca-Pasto highway. The project is located in Narino and will provide an improved road link to neighbouring Ecuador. The 83km highway project forms part of Colombia’s 4G programme of infrastructure works.
The finance package is being provided jointly by FDN, Bancolombia, UPI, JP Morgan Chase Bank, Sumitomo Mitsui Banking Corporation, Societe Generale, MUFG Bank, Credit Agricole Corporate and Investment Bank, Siemens Financial Services and Davivienda. The financial institutions are offering a package worth $800 million in a deal that comprises loans in US currency and Colombian currency as well as a social bond worth $262 million. The road will improve connectivity with Ecuador and provide an important link for trade between the two countries.
