Colombia’s First Three 4G Highway Concessions Financed For $1.2 Billion USD

Yesterday, Colombia’s Development Finance Agency, FDN (Financiera Nacional de Desarrollo) announced the successful financing of the first three 4G (Fourth Generation) highway concessions, expanding the country’s ground transportation infrastructure. This will facilitate construction of the Girardot-Puerto Salgar, Pacifico 3, and the Barranquilla-Cartagena Corridor projects. The projects will be financed by both national and international investors.

US investment bank Goldman Sachs has signed a firm commitment to provide $1.2 billion USD for the projects, and the deal structure, with participation of FDN will have both dollar and peso components, and financing terms up to 20 years.

“The participation of Goldman Sachs in the financing of the Girardot-Puerto Salgar, Pacifico 3, and the Barranquilla-Cartagena corridors demonstrate the confidence in our economy and the interest by the international markets in participating in the financing of the 4G projects in Colombia,” said Finance Minister Mauricio Cardenas.

The three concessions will be constructed by firms Mario Huertas, MECO, El Cóndor, Ingeniería de Vias, S.A. and Pavimentos de Colombia, S.A.S.

Photo courtesy of Minhacienda