The Colombian government has awarded the contract for construction of the 2921 Cesar-Guajira road to Construcciones 4882 El Condor, sole bidder for the work.
The deal is a US$165 million public-private partnership (PPP) aiming to improve connectivity with the country’s Caribbean coastal departments. The 350km road will connect San Roque with Cuestecita, take four years to build and employ around 1,400 workers.
Colombian Vice President, German Vargas Lleras, said five projects have been approved under the PPP scheme.
The863 Central American Bank for Economic Integration (CABEI) recently gave Columbia approval for a $400 million loan for infrastructure projects. Around $200 million will finance so-called fourth generation, or 4G, motorway concessions.
The loan announcement came after Columbia’s National Infrastructure Agency said it will help finance construction of the Toyo tunnel in Antioquia. The tunnel, nearly 10km-long and costing almost $765, will be part of a new 39km road between Santa Fe de Antioquia and Canasgordas.
The central government will contribute $216 million towards the project, the regional government of Antioquia will contribute $337 million and the Medellin government will pitch in with $212 million.
Awarding of a contract for the project is expected later this year.
Columbia has been struggling with road infrastructure investment that has resulted in a backlog of maintenance. Projects such as the Toyo tunnel are part of the government’s 4G of the Road Concessions Program. To increase foreign investment for infrastructure, the government is pushing through a PPP Law and created the Financiera de Desarrollo Nacional – a state development bank.
The deal is a US$165 million public-private partnership (PPP) aiming to improve connectivity with the country’s Caribbean coastal departments. The 350km road will connect San Roque with Cuestecita, take four years to build and employ around 1,400 workers.
Colombian Vice President, German Vargas Lleras, said five projects have been approved under the PPP scheme.
The
The loan announcement came after Columbia’s National Infrastructure Agency said it will help finance construction of the Toyo tunnel in Antioquia. The tunnel, nearly 10km-long and costing almost $765, will be part of a new 39km road between Santa Fe de Antioquia and Canasgordas.
The central government will contribute $216 million towards the project, the regional government of Antioquia will contribute $337 million and the Medellin government will pitch in with $212 million.
Awarding of a contract for the project is expected later this year.
Columbia has been struggling with road infrastructure investment that has resulted in a backlog of maintenance. Projects such as the Toyo tunnel are part of the government’s 4G of the Road Concessions Program. To increase foreign investment for infrastructure, the government is pushing through a PPP Law and created the Financiera de Desarrollo Nacional – a state development bank.
