A consortium comprising Austria’s Strabag (37.5%), Spain’s Sacyr (37.5%) and Concay of Colombia (25%) has been awarded the € 900 million (US$ 950 million) contract to design, build, finance and operate the 176 km Autopista al Mar 1 in Colombia.
Strabag said the construction value of the 25-year concession project was “a middle triple-digit million Euro amount.” The project was awarded by the Colombian national infrastructure agency, ANI.
The motorway is in the Department of Antioquia in north-western Colombia and will link Medellín, the capital of Antioquia, with the cities of San Jerónimo and Santa Fe de Antioquia before continuing to Bolombolo. The project involves the completion of 75 km of new motorway, the modernisation of a 65 km section plus the construction of numerous bridges and tunnels.
Construction of the motorway is to begin after the financial close, which is expected for the fourth quarter of 2016. Completion is scheduled within five years. In addition to partial revenues in the form of toll collections, the consortium will receive annual payments from ANI for its services.
Strabag said the scheme marked its market entry into Colombia, while Sacyr was said to be using it to expand its concession business in Latin America. Bogotá-based construction company Concay is contributing local expertise.