Colombia authorities poised to liquidate highway concessionaire Ruta del Sol
Authorities in Colombia are next week due to begin liquidating concessionaire Ruta del Sol, which has been stripped of a contract to build the second section of the Ruta del Sol highway.
Colombia's infrastructure agency ANI, in a statement, said the process will unlock funds which will be used to pay suppliers, workers and banks involved in the project.
Transport minister Jorge Rojas said 100bn pesos (US$34mn) would be freed up.
The ANI said highway authority Invias will launch tenders to ensure work on the project resumes as soon as possible.
The contract was canceled in February after reports of alleged bribes paid by Brazilian construction company Odebrecht, part of the Ruta del Sol consortium, in 2009.
The concessionaire and the government have reached an agreement over the termination of the contract, in which the consortium said it would not continue with plans to seek 700bn pesos via arbitration.
As of December 31, about 54% of work on the second section of the Ruta del Sol highway had been completed.
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