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Colombia's national concessions institute (Inco) has awarded the concession contract for the first stretch of the Transversal de las Americas highway to consortium Vias de Las Americas.
The consortium, comprised of firms Grupo Odinsa, Construcciones El Condor and Valorcon, bid 1.16bn pesos (US$636mn) for the project, Inco said in a press release.
Work includes rehabilitation of 446km of highway and expansion of a 65km stretch between Turbo and El Tigre in Antioquia department to four lanes. The project also involves building 133km of highway, as well as two bridges.
The consortium will operate the tollroad for seven years, with expansion and rehabilitation work scheduled to be completed in four years, local press reported.
Transversal de Las Americas' first stretch is divided into four sections and runs through the country's northwest departments, including Bolivar, Antioquia and Magdalena.