- The concession covers construction of 80.84 km of new road, upgrading 108.2 km of existing road, and construction of 16 bridges, 2 viaducts and 2 tunnels with a combined length of 5.95 km.
- The concession has a duration of 25 years.
Ferrovial, through subsidiary Cintra, has achieved financial closure of the Ruta del Cacao toll road concession.
Non-recourse funding in the amount of 465 million euro, maturing in 2035, was arranged on 25 October as a syndicated loan from six institutions: BBVA Colombia, S.A., Bancolombia, S.A., Financiera de Desarrollo Nacional (FDN), the Inter-American Development Bank (IDB Invest), Fondo de Deuda BlackRock and Fondo de Deuda Unión para la Infraestructura (UPLI). The syndicate relied on the services of BBVA Colombia and Bancolombia as advisers and structurers for the deal.
Cintra and its partners, RM Holdings S.A.S. (owned by Fondo de Infraestructura Colombia Ashmore I) and MC Victorias Tempranas S.A.S. (owned by Grupo Mercantil Colpatria), are responsible for developing and operating the project. Ferrovial Agroman and construction company Colpatria will take charge of design and construction.
Upon completion of construction, scheduled for late 2021, the road will enhance mobility in the Los Santanderes and Magdalena Medio regions and will also connect with the Ruta del Sol highway. The project also aims to improve access to the municipality of Barrancabermeja and its hinterland.
Cintra is one of the world’s leading private sector developers of transportation infrastructure in terms of the number of projects and the volume of investment. It currently manages over 2,072 kilometers of toll roads in 26 concessions in Canada, the US, Europe, Australia and Colombia. Cintra is the largest shareholder in the 407 ETR concessionaire, in Ontario, Canada, with a stake of 43.23%.
