The financial closing for the Autopista al Mar 1 project, of the Devimar concession participated in by Sacyr Concesiones, has received two awards from the prestigious international publication LatinFinance in the Road Financing of the Year and Infrastructure Financing of the Year: Andes categories.
To grant the awards, the publication took into account factors such as the execution of the agreement, the size of the economic operation, the complexity of the process, the innovation that was employed, the structuring, and the importance that the operation had on the market.
According to the General Manager of Devimar, Jesús Rodríguez Robles, “This is a recognition for the entire Devimar team, which made this financial closure possible and which executed the works. The Autopista al Mar 1 project will have a positive impact in the region, as it will bring development and wellbeing and it will improve the competitiveness of Antioquia and the country.”
The financial closure of 2.19 billion Colombian pesos (approximately 630 million euros) was agreed upon last March between the entities: Financiera de Desarrollo Nacional (FDN), Instituto de Crédito Oficial (ICO of Spain), KfW IPEX-Bank (Germany), BID Invest (multilateral bank), CAF (Development Bank of Latin America), Sumitomo Mitsui Banking Corporation – SMBC (Japan), Société Générale (France) and BlackRock (Debt Fund of Colombia).
The percentage of execution of the project will exceed 50% in all interventions, including the Two-lane Highway between Medellín and Santa Fe de Antioquia, the second tunnel of the Western Tunnel, where 1,779 meters have been excavated (810 meters in the Medellín entrance and 969 meters in the Santa Fe entrance). In addition, 3,500 jobs will be generated, including direct and indirect jobs, most of which will be in the area of influence.
The percentage of execution of the project will exceed 50% in all interventions, including the Two-lane Highway between Medellín and Santa Fe de Antioquia, the second tunnel of the Western Tunnel, where 1,779 meters have been excavated (810 meters in the Medellín entrance and 969 meters in the Santa Fe entrance). In addition, 3,500 jobs will be generated, including direct and indirect jobs, most of which will be in the area of influence.
Autopista al Mar 1
The Desarrollo Vial al Mar (Devimar) concession, comprised of Sacyr Concesiones (37.5%), STRABAG (37.5%), and Concay (25%), is in charge of the studies and designs, financing, environmental, property and social management, the construction, restoration, improvement, operation, maintenance, and reversion of the Autopista al Mar 1 project.
The scope of the 176-kilometer project breaks down as follows:
• Construction of the Two-lane Highway between Medellín and Santa Fe de Antioquia.
• Construction of the second tunnel of the Western Tunnel (4.6 kilometers).
• Renovation between Santa Fe de Antioquia and Bolombolo.
• Operation and maintenance between Santa Fe de Antioquia and Cañasgordas.
• Operation and maintenance along the entire roadway.
