BUGA-BTURA

pending

The proposed investment entails a project finance secured facility A-Loan of up to US$200m in COP-linked equivalent (approximately (COP$ 840,000m) to Unión Vial del Pacífico S.A.S (“UNIVIAL”, the “Company”, or “the Concessionaire”) - https://caminodelpacifico.com. The estimated total project cost is US$1 billion, with additional financing provided by both international and local banks. The loan proceeds will be used for the Buenaventura-Loboguerrero-Buga concession (“BLB” or the “Project”), a brownfield toll road in the Valle del Cauca Department. This project was awarded to the Company in August 2022 by Colombia’s National Infrastructure Agency (“ANI”), with construction starting in August 2024.  Construction and maintenance activities during preoperational stage will be developed by Sacyr Construcción Colombia (the “EPC”).  The road, which connects Buenaventura, Colombia's main Pacific coast port, with the country's interior, began operations in the 1960s and has been rehabilitated and expanded over the years under government intervention and previous concessions. The project is divided into twenty-two sections or Functional Units (UF) and involves the operation and maintenance (O&M) of 244 km of existing road, including the rehabilitation and improvement of 154 km, the addition of two short tunnels totaling 1.4 km, stabilizing critical slopes, enhancing 33.7 km of road, converting 35 km of single carriageway to dual, rehabilitating the last 24 km access road through Buenaventura, and replacing electromechanical equipment in 17 tunnels with a combined length of 9.3 km. The construction phase, which began in August 2024, will last approximately 3.5 years, while the operations and maintenance (O&M) stage will extend for 29 years from the concession start date. Other facilities include tolls and bike paths. BLB is sponsored by Sacyr Concesiones Colombia S.A.S (“Sacyr Colombia” or the “Sponsor”), a subsidiary of the Spanish Conglomerate Sacyr S.A (“Sacyr”) - https://sacyr.com/, which also owns Sacyr Construcciones.