A consortium led by Spanish construction group Cintra Infraestructuras, a subsidiary of Ferrovial, has been selected by Colombia’s National Infrastructure Agency to design, build, finance, operate and maintain 152km of the Bucaramanga-Barrancabermeja-YondÃ³ toll road.
Other consortium members are the Ashmore infrastructure fund in Colombia and Colombian group Colpatria.
Cintra will develop this $970m project, and design and construction will be undertaken by a joint venture headed by Ferrovial Agroman.
Cintra will take charge of operation and maintenance.
The contract includes refurbishment, resurfacing and a new corridor 152km long, 95km of which will have two lanes each way between Bucaramanga and Barrancabermeja.
The road will include two tunnels measuring 6km, as well as 34 viaducts and bridges.
The project will improve traffic conditions in the region and strengthen opportunities for economic development. It will also boost employment and the economy of eastern Colombia, where the bulk of the country’s oil production is located. Â
The concession is for 25 years from contract signature, with the possibility of a four-year extension.
The concession company will be remunerated with availability payments and tolls. The contract also provides for toll revenues to be guaranteed by the government.
The contract is similar to one awarded to Cintra ealier this week.
Image via Ferrovial