Sacyr Concesiones has closed the financing for the concession of the Puerta de Hierro – Palmar de Varela and Carreto-Cruz del Viso highway in Colombia for 185 million dollars with the financial entities Banco Santander and BTG Pactual.
The closure guarantees the investment required of 250 million dollars to successfully build this 197-kilometer road project, located in the Caribbean region. Currently, the Puerta de Hierro project is in the construction phase, and is more than 50% complete. Works are being carried out on approximately 95 work sites that generate 2,563 direct and indirect jobs.
The concessionaire has also carried out around 500 socio-environmental activities with the community, which have benefited over 6,000 people, including socializations, trainings, workshops, production projects and seminars.
Vial Montes de María Concessionaire
The Vial Montes de María concessionaire (100% Sacyr Concesiones) is in charge of the studies and designs, financing, the environmental, property and social management, improvement, construction, operation and maintenance of the 4G Puerta de Hierro – Palmar de Varela and Carreto – Cruz del Viso project that has an influence in the departments of Sucre, Bolívar and Atlántico.
The concession includes the improvement of 165 kilometers of existing road and the construction of a 5.2 km-offshoot in the municipality of El Carmen de Bolívar, as well as the operation and maintenance of the entire 197-kilometer road corridor.
This road will strengthen the ground connection between the interior and the port populations of the Caribbean and will allow for a greater connection from the west of the country to the Atlantic coast.
For more information about the project go to www.concesionariavialmontesdemaria.com
Concessional profile
Puerta de Hierro is one of the four roads that Sacyr Concessions is developing in Colombia, within the Fourth Generation (4G) projects, launched by the Government of the country.
These projects have contributed to increasing Sacyr Concessions profile during recent years. The concessional assets already contribute 77% of the company's EBITDA.
Sacyr Concessions operates in 10 countries in Europe and Latin America and has 44 backlog assets. The total investment managed by the concessionaire is 12.8 billion euros and the future income backlog stands at 27,623 million.
