Autopista al Mar 1

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In June 2015, Estructura Plural SAC 4G, a partnership of the Austrian company Strabag S.A.S. (37.5%), the Spanish Sacyr Colombia S.A.S. (37.5%) and the Colombian Concay S.A. (25%), was awarded the contract to expand, rehabilitate and operate the 176-km road connecting San Jeronimo, Santafe de Antioquia, Bolombolo and Canasgordas. The project was named Autopista al Mar 1. The project included the improvement of the existing roadway; the construction of 41 bridges, 17 tunnels, a second lane in the Medellin-Santa Fe de Antioquia and a second phase of the Tunel de Occidente (4.7 Km); the rehabilitation of the stretch Bolombolo-Santa Fe de Antioquia; and the entry into operation of the route between Santa Fe de Antioquia and Canasgordas. Besides Estructura Plural SAC 4G, only two other bidders presented offers to undertake the project: Estructura Plural Cintra Concesia and Estructura Plural Vincc de Uraba 1. The bidding criteria was the lowest funding provided by the government. The winning bid represented a need for the government to fund 34% of the project. The government announced the use of Colombian private pension funds in the financing. The sponsors created the special purpose company Desarrollo Vial al Mar SAS to lead the project. In June 2015, the 25-year contract was signed in September 2015, and the sponsor took over the operations in October 2015. The investment was estimated at US$ 817 million (Pesos 2245 billion), of which the private sponsors committed to fund US$ 534.6 million (Pesos 1469 billion). On 21 March 2019, it was announced that the project achieved financial close by concluding long-term financing COP 2.2 trillion or $ 713 million. Financiera de Desarrollo Nacional – FDN, the Colombian development bank, provided senior debt of COP 553 billion ($178 million). KfW IPEX-Bank contributed $ 75 million. Other banks which provided financing are Instituto de Crédito Oficial – ICO (Spain), IDB Invest, CAF (Latin American development bank), Sumitomo Mitsui Banking Corporation, Société Générale and BlackRock. https://www.contratos.gov.co/consultas/detalleProceso.do?numConstancia=13-19-2154140 2019: https://www.kfw-ipex-bank.de/Presse/News/News-Details_512320-2.html http://resources.euroadhoc.com/documents/2246/5/10282082/1/STRABAG_Mar1_Mar19_E_FINAL.pdf https://ijglobal.com/articles/139034/autopista-al-mar-1-colombia