Colombia awards US$460mn highway

Friday, October 17, 2014

Colombia has awarded a contract to build the Conexión Norte highway to the Autopistas del Nordeste consortium.

The group, with a bid of 870bn pesos (US$460mn), beat rival China Gezhouba Group Limited in the tender.

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Conexión Norte will be a 145km highway connecting Caucasia, Zaragoza and Remedios in northern Antioquia department. The project includes the construction of one tunnel and 96 bridges.

It is part of a larger US$25bn master plan dubbed 4G to build highways across the country.

The 4G program involves 40 concessions for the expansion and construction of 8,000km of roads, bridges and tunnels. So far, Colombia has signed five highway contracts for 5.8tn pesos.

The government has eased rules to allow more companies to participate in the tenders, which have attracted few bidders. Insurer AIG said several highways could be difficult to award as traffic estimates for 20-25 of the projects were overstated, and anticipated possible financial strains in tenders.

BNamericas will host its 5th South America Infrastructure Summit in Colombia on October 22-23.