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The project, which is part of the country's 4G highway program, requires an investment of more than 1.5tn pesos (US$523mn).
Sacyr's bid beat those from Estructura Plural (formed by Cintra and Shikun) and CCA Civil Colombia. The contract is expected to be signed in about month, said ANI.
The initiative includes the construction of a 62km highway between the cities of Pamplona and Cúcuta, both in the Santander department, of which 42km will be a divided highway.
ANI head Luis Andrade said the project will also include a turnabout at Pamplona so that the traffic coming from the city of Bucaramanga does not enter Pamplona, easing up mobility.
The works are expected to create more than 4,000 jobs, thus helping to boost the economy of the department's northern cities, said Andrade.