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A consortium led by Colombia's Colpatria is likely to be chosen by the government to expand the Ibagué-Cajamarca highway under a public-private partnership (PPP), according to business daily Portafolio.
The 1.2tn pesos (US$571mn) project calls for the expansion of a 35.1km stretch of road between both cities in Tolima department. It also requires maintenance and operation of 190km, as part of a larger 225.1km highway concession.
The PPP named Promesa de Sociedad Futura AP GICA has been approved by the government's council of ministers. Other parties interested in the project will have two months to review AP GICA's offer and submit their respective proposals, Luis Fernando Andrade Moreno, head of the national infrastructure agency ANI, was quoted by the website as saying.
If no interest is expressed by other parties, the project will be awarded to the Colpatria-led group, the report said.
Early aspects of the project outline 16 tunnels and 15 bridges, with the works anticipated to cut travel time between Ibagué and Cajamarca to 25 minutes from approximately 70 minutes. The project should be completed by 2019.