Sacyr financing $185m of the Puerta de Hierro highway in Colombia
Sacyr Concesiones has completed the financial closure of the concession of the Puerta de Hierro – Palmar de Varela and Carreto-Cruz del Viso motorway in Colombia for $185 million (€168 million) with the financial institutions Banco Santander and BTG Pactual.
The closure guarantees the required investment of $250 million (€226 million) to carry out the 197 kilometre road project.
Currently, the Puerta de Hierro project is in the construction phase, with progress of over 50%. Works are being carried out on approximately 95 fronts that generate 2,563 jobs, direct and indirect.
The concessionaire has also carried out nearly 500 socio-environmental activities with the community, which has benefited more than 6,000 people, including socializations, trainings, workshops, productive projects and conferences.
Montes de María Road
The Vial Montes de María Concessionary Company (100% Sacyr Concession) is in charge of the studies and designs, financing, environmental, property and social management, improvement, construction, operation and maintenance of the 4G Puerta de Hierro – Palmar de Varela y Carreto project – Cruz del Viso that influences the departments of Sucre, Bolívar and Atlántico.
The concession provides for the improvement of 165 kilometres of existing road and the construction of a 5.2 km variant in the municipality of El Carmen de Bolívar, as well as the operation and maintenance of the entire 197 km road corridor.
This route will enhance the connection between the interior and the port populations of the Caribbean and will allow a greater connection of the West of the country with the Atlantic coast.
Puerta de Hierro is one of the four roads that Sacyr Concesiones develops in Colombia, within the Fourth Generation (4G) projects, launched by the Government of the country.
These projects have contributed to enhance Sacyr’s concessional profile in recent years. Concession assets already contribute 77% of the company’s EBITDA. Sacyr Concessions have a presence in 10 countries in Europe and Latin America and has 44 assets in its portfolio. The investment managed by the concessionaire is €12,800 million and the portfolio of future income already reaches €27,623 million.
