Colombian highway corridor achieves financial closure for 976bn pesos and begins construction phase

By ANI

The Fifth Generation (5G) Project for the New Road Network of Valle del Cauca, Buga – Loboguerrero – Buenaventura Corridor, awarded by the National Infrastructure Agency – ANI, accredited financial closure for a value of 976 billion pesos, with which it ensures one more of the previous requirements to begin the construction phase projected in 42 months.

With a length of 128 km, the project will be supported by JP Morgan Chase Bank N.A.

In this regard, Francisco Ospina, president of ANI, confirmed that “the solidity of the road infrastructure projects is reflected in the vote of confidence of the financial system. Once again, the importance of the Public-Private Partnership scheme in the development of strategic initiatives for the country is highlighted. We also celebrate the start of the works on this fifth generation project, which is considered one of the most important axes of the national road network.”

It is important to note that during the construction phase, which is projected to last 42 months, it is expected to generate more than 6,000 direct, indirect and induced jobs. In turn, the project is expected to be completed in February 2028.

CONSTRUCTION PHASE BEGINS

In this construction phase, work will be carried out in the sectors between Guadalajara de Buga and Mediacanoa, corresponding to functional unit 18, with activities related to the regular maintenance and adjustment of the dual carriageway. It should be noted that, gradually, work will begin on all functional units.

This important initiative will have a concession length of 128 km, with a second carriageway corridor along 116.1 km. The works include the rehabilitation, operation and maintenance of the existing road.

This project will directly benefit residents of the municipalities of Buga, Yotoco, Restrepo, Calima (Darién), La Cumbre, Dagua and Buenaventura.

KEY PROJECT DATA

This Fifth Generation (5G) initiative has an investment of $5.3 billion (Capex and Opex as of Dec. 2023) and corresponds to the final section of the Bogotá–Buenaventura dual carriageway corridor.

The Unión Vial Camino del Pacífico Concessionaire made an investment of more than 14 billion pesos and priority interventions, fulfilling its contract in the pre-construction phase, giving a new face to the road corridor.

The works include slope stabilization, the construction of two (2) short tunnels, totaling approximately 1.4 km, and the change of electromechanical equipment in the seventeen (17) existing tunnels, whose consolidated length is 9.3 km.

It also includes the rehabilitation of 15 km of the Simón Bolívar highway, the national pass through Buenaventura, the upgrading of 155 km of existing road, the improvement of 33.7 km and the construction of 35 km of new road (second carriageway). The project also includes the maintenance and operation of 244 km.