Boulevard Turistico Del Atlantico

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Autopistas del Nordeste, C por A (AdN)was awarded the Santo Domingo-Cruce Rincon de Molinillos toll highway in 1999 in an international bidding process. AdN also won the right, but not the obligation to build a 123km extension. AdN had partially constructed 106km from Santo Domingo to Nagua in the Semana Peninsula by 2008 (see project 4424 Autopistas del Nordeste). AdN decided to split the concession and create Boulevard Turistico Del Atlantico, C por A (BTA) as a new, independent company with the same shareholders to build the extension. BTA’s shareholders were the Colombian firms Grupo Odinsa (42.5%) and Grodco SA (20%) as well as Dominican construction firm Consorcio Remix (37.5%). In December 2007, an environmental license was granted to Boulevard Turistico Del Atlantico, C por A (BTA) by the Ministry of Public Works and Communications to build rehabilitate and operate 123-km of road connecting the City of Nagua with Majagual in the Samana Peninsula. The Boulevard Turistico del Atlantico project consisted of i) the rehabilitation of an existing highway that linked the cities of Nagua – Sanchez – Samana -El Limon - Las Terrenas (99 Km), ii) the 24-km construction of a new road between LasTerrenas and Majagual, and iii) the construction of a new toll station. The Samana peninsula was close to a marine reserve and considered to be a high potential tourist destination. The total project cost was estimated at US $179.9 million. The project reached financial closure on December 16, 2009 when a 15-year, $151.1 million debt-financing agreement was signed. The debt consisted of a US $44.8 million A loan from the Inter-American Development Bank, a US $44.8 million loan from the European Investment Bank, a US $41.5 million loan from CAF and a US $20 million from Proparco, a division of Agence Française de Developpement.