Ruta Caribe

Active

In July 2007, Autopistas del Sol, a partnership of the Colombian companies Cicon S.A, KMA Construcciones, Constructora EMMA, OBRESCA and KMA Inversiones, was awarded the right to build and operate 152 km of highways and rehabilitate and operate other 252-km of highways connecting the municipalities of Monteria, Sincelejo, Cartagena and Barranquilla. The toll road project was named Ruta Caribe. Besides Autopistas del Sol, three other consortiums placed bids on the project: Santa Catalina de Indias S.A.; Consorcio Desarrollo Vial del Caribe; and Concesion Ruta Caribe S.A. The bidding criteria was the lowest investment cost. The sponsors created the special purpose company Concesionaria Autopistas del Sol S.A. to manage the project. The 21-year contract was signed with the federal government regulatory agency Instituto Nacional de Vias (INVIAS) in August 2007. Construction works commenced immediately and, by January 2012, were ahead of scheduled. Also in 2012, the project company started charging toll rates. Investment in the project was estimated at US$ 385.4 million (COL 693 billion).