Sacyr Concessions, via the Unión Vial Río Pamplonita concession, has secured the financing of the concession for the Pamplona-Cúcuta divided highway in Colombia for $520 million (€474 million) with eight international and one national financial bodies: JPMorgan Chase Bank, FDN (Financiera de Desarrollo Nacional), Deutsche Bank AG, ICBC (Industrial and Commercial Bank of China), Bank of China, ICO (Instituto de Crédito Oficial de España), MetLife, MUFG Bank and Société Générale.
This transaction sees Sacyr securing the financing of its four 4G projects in Colombia for over $2 billion.
The closure guarantees the investment required to build this 62-kilometer road project, located in the north of Santander. At present, the project is in the construction stage, with a total progress of 14%. Operations are undergoing on 60 work fronts, generating 2,224 direct and indirect jobs, over 70% of which belong to the region.
The concession has already carried out more than 90 socio-environmental and sales training and promotion activities that have directly and indirectly benefited over 2,400 people.
Solving the mobility issue between Colombia and Venezuela
This road infrastructure project is a solution that connects the border between Colombia and Venezuela, as well as with the northeast of the country. It will reduce travel times and operating costs for users, thereby guaranteeing a quicker and safer road corridor. In addition, it contributes to improving the quality of life of the region’s inhabitants.
The Unión Vial Río Pamplonita concessionaire, fully owned by Sacyr Concessions, is in charge of the final studies and designs, financing, the environmental, property tax and social management, construction, improvement, rehabilitation, operation, maintenance and turnaround of the Pamplona-Cúcuta corridor. The main characteristics of the project are:
- Project length: 62.2 km (origin-destination).
- New road construction: 50.2 km (divided and undivided highway).
- Rehabilitation: 72.2 km of existing road (between Pamplona and a section of Betania, Los Patios).
- Two tunnels. 1.4 km and 1.1 km long
- Bridges 25 vehicle, 4 pedestrian and rehabilitation of 23 existing bridges
- For further information on the project, visit: www.unionvialriopamplonita.com
Pamplona – Cúcuta 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 80% of the company's EBITDA. Sacyr Concessions operates in 10 countries in Europe and Latin America and has 45 backlog assets. The total investment managed by the concessionaire is €13.300 billion and the future income backlog stands at €30.000 billion.