Bog Transmicable

active

IFC’s proposed investment is a US$ 30 million loan to Bogota Distrito Capital (the “client” or the “City”) to finance “TransMiCable” (“project” or “TMP”), an aerial cableway connecting the low-income mountain neighborhood of Ciudad Bolívar to the City mass-transit system. The project is expected to benefit approximately 80,000 habitants of Ciudad Bolívar by significantly reducing their travel time to the Transmilenio El Tunal station.The project has a cost of US$ 70 million, partially financed by the Colombian Financiera del Desarrollo Territorial S.A or Findeter. The cableway system will have a maximum capacity of approximately 3,500 passengers per hour (one way) and 60,000 passengers per day. There will be 160 cabins which will each seat maximum ten passengers.The TransMiCable cableway will be 3.25 km long, with a height difference of 262 meters and will have three new stations (Juan Pablo II, Manitas and Mirador del Paraiso), which will be around 3000 m2 each) in addition to El Tunal (the terminal station), and 24 towers along the way. The project will be integrated with the main Bogota mass transit system (managed by TRANSMILENIO S.A., 100 % city owned enterprise) at Portal El Tunal Station through an underground passage.In 2013, a third-party engineering and environmental consortium, Consorcio Aqua-Terra-Incoplan, was hired to conduct a feasibility study of the project. The Urban Development Institute (“IDU”, a governmental organization which is responsible for infrastructure projects for Bogota) has since been responsible for the project’s design and construction. To supervise the project’s implementation and progress, IDU hired a third-party consultancy company (Interventoría), which is in charge of the control of the design and monitoring of the contractors, including environmental, social, occupational health and safety requirements.The construction contract was awarded to a special purpose vehicle (“SPV”), formed by Doppelmayr Colombia SAS, Constructora Colpatria S. A. and Icein Ingenieros Constructores SAS (all together as “project contractors” or “consortium”). The construction works started in September 2016. At the time of the initial field appraisal (February 2017), 60 percent of the civil works had been executed. As of October 2018, 100 percent of the civil works were concluded and IDU was conducting the operational tests with the cableway, including the operation of the cabins, pulleys, tweezers, cables, and load test. The operation activities are planned to start in December 2018. TRANSMILENIO S.A. (“TM”) will receive the project from IDU at the end of construction and will be responsible for the operations of the cableway system. A contractor to conduct operations (namely Cable Móvil, the operator) for five years has been selected.This project is part of a proposed IFC investment on the Bogota transportation system, which also includes the Caracas Sur Busway (#38347).