Autopista Villavicencio - Yopal

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In June 2015, Estructura Plural Arauca 3, a partnership of the Colombian companies Episol - Estudios y Proyectos del Sol S.A. (60%) and Colombiana de Concesiones y Licitaciones S.A.S (Concecol, 40%) - both companies subsidiaries of Corficolombiana, was awarded the contract to finance, construct, expand, rehabilitate and operate the 261-km road connecting Meta and Casanare. The project included the improvement and expansion of a 209.1-km existing road between Cumaral and Aguazul; the rehabilitation of 8.9 kilometers of highways, the construction of 32 bridges and a second lane between Villavicencio and Cumaral (17 km); and 25.7-km roadways between Aguazul and Yopal. Besides Estructura Plural Arauca 3, other five bidders presented offers: Concesionaria Vías del Desarrollo; Estructura Plural OHL Concesiones; Infraestructura Vial para Colombia; Estructura Plural SAC 4G; Estructura Plural Shikun & Binui-Grodco. The bidding criteria was the lowest funding provided by the government, and the winning bid represented a need of public funding for 56% of the project's costs. The special purpose company Concesionaria Vial del Oriente SAS (Covioriente SAS) was created to manage the project. The 23-year contract was signing in July 2015, and the sponsors took over the operations in September 2015. The investment was estimated at U$$ 1069 million (Pesos 2939 billion). In October 2016, the sponsors closed a bridge financing deal worth US$ 104 million. The syndicated bridge was provided by the following international lenders: Natixis, Credit Agricole Corporate and Investment Bank, Citibank (also administrative and collateral agent) and Banco de Sabadell. https://www.contratos.gov.co/consultas/detalleProceso.do?numConstancia=13-19-1914079