Bogotá metro line 1 concessionaire secures over US$500mn in credit line

The concessionaire of Bogotá metro line No. 1 has secured two credit lines totaling US$519mn.

The first credit line, amounting to US$230mn, was jointly granted by Bank of China Limited, Panama Branch, and Industrial and Commercial Bank of China, Panama Branch, while the second, valued at 1.2tn Colombian pesos (US$289mn), was provided by Financiera de Desarrollo Nacional, BBVA Colombia and Banco de Bogotá, according to a statement from Spanish law firm Cuatrecasas, which advised on the transaction.

These financing lines will support the construction of line No. 1 of the metro in Colombia’s capital by Concesionario Metro Línea 1, which is formed by China Harbour Engineering Company Limited (85%) and Xi’an Rail Transportation Group Company Limited (15%).

Currently under construction, Line No. 1 is one of Colombia’s most significant infrastructure projects, and it is expected to transport around 1mn passengers daily along a 23.9km in the capital.

According to Bogotá city hall, testing of the first train is set to conclude in China this month. The train will arrive in Colombia in September, followed by the delivery of two trains per month until all 30 trains for the metro system are in place.

In January, Mayor Carlos Fernando Galán announced that by the end of 2025, progress on construction should exceed 65%. As per the established timeline, the subway is scheduled to begin operations in 2028.