Autopista del Atlantico

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In December 2011, the consortium Canel Seco de Honduras, comprised of the Colombian group Grodco and the Honduran company Prodecon Profesionales de la Construccion, won in a competitive bidding the right to expand, rehabilitate and operate the 122.6 km of highways connecting the muncipalities of El Progreso-Tela, San Pedro Sula-El Progreso and La Barca–El Progreso located in Honduras. The project was named Corridor Turistico El Progreso. The bidding criteria was the best technical and economical proposal. Besides Canal Seco de Honduras, two other companies made public offers for the project. The sponsors created the company Autopistas del Atlantico to lead the project. The 30-year concession contract was signed in December 2012. The investment was estimated at US$ 150 million over the life of the project. Operations commenced in January 2013. In April 2015, the sponsors were granted a MIGA-backed US$145 million debt financing for the Corredor Turístico toll road. MIGA provided provided guarantees of US$124.3 million to the project's two international lenders - JP Morgan and CIFI. JP Morgan granted a US$ 100 million loan, while CIFI provided a US$ 15 million loan. In addition, the Honduran bank Ficohsa granted a US$ 30 million loan to the project.