Autopista Conexion Pacifico 3

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In July 2014, the partnership of the Colombian company Mario Alberto Huertas (75%) and the Costa Rican company Constructora MECO (25%) won in a competitive bidding the right to expand, rehabilitate and operate the 146 km of the Autopista Conexion Pacifico 3 highway connecting the cities of La Pintada - La Felisa - Irra - Tres Puertas - Tres Puertas-La Manuela - Asia - La Virginia - Variante Tesalia. The bidding criteria was the lowest funding to be provided by the government. Two groups of companies presented offers: Estructura Plural Mario Alberto Huertas -Constructora MECO; and Shikun & Binui–Grodco. Estructura Plural Mario Alberto Huertas -Constructora MECO 's request was 13% below the ceiling established by the government, a value of US$ 389.5 million, or 60.3% of the project costs. The investment was estimated at US$ 645.6 million. The 25-year concession contract was signed in September 2014. The sponsors created the company Concesion Pacifico Tres S.A.S. to lead the project. In August 2015, the sponsors were able to raise financing for three of their projects, including the Autopista Conexion Pacifico 3. The financing consisted of a bond issue for Pesos 2.5 trillion (US$ 867 million) and a Pesos 1.5 trillion (US$ 520 million) syndicated term loan from both local and international banks with Goldman Sachs as lead arranger. In February 2016, the project was granted a US$ 650.3 million financing package, which included a US$ 89.46 million in loans from Corpbanca, US$ 89.46 million in loans from Bancolombia, US$ 44.7 million in loans from Credicorp, US$ 44.7 million in loans from Sura Asset Management, US$ 381.93 million in bonds issued by Goldman Sachs.