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STRABAG: Financial close of its project “Autopista al Mar 1” in Colombia completed 21 March 2019 | STRABAG SE • USD 713 million project financing • Seven international and one national bank are participating in the transaction Medellín, 21 March 2019---The PPP toll road project Autopista al Mar 1 has reached its financial close by securing loans for a total amount of USD 713 million. Thus, the project, which was awarded by the Colombian National Infrastructure Agency to Devimar in 2015, has obtained the required funding. This achievement confirms the reputation and experience of Devimar´s sponsors: SACYR (Spain, 37.5 %), STRABAG (Austria, 37.5 %) and CONCAY (Colombia, 25 %). "This financial close is a very important achievement for Devimar. We are proud to receive such confidence from national and foreign banks, which underscores the solidity of the project Autopista al Mar 1. We are deeply satisfied with the progress of the construction since the outset. Our venture will bring long-lasting development to Antioquia and Colombia and will have a positive impact in the wellbeing of their people, ” says Jesús Rodríguez Robles, CEO of Devimar. The bank facilities have been secured by the following international and national financial institutions: * Financiera de Desarrollo Nacional – FDN (Colombia) * Instituto de Crédito Oficial - ICO (Spain) * KfW IPEX-Bank (Germany) * BID Invest (Multilateral bank) * CAF (Latin American Development Bank) * Sumitomo Mitsui Banking Corporation – SMBC (Japan) * Société Générale (France) * BlackRock (Debt Fund Colombia) The project Autopista al Mar 1 is currently under construction, with a 30 % overall construction progress through more than 130 active work fronts. It is expected that over 2.200 direct and indirect jobs will be created. General Information Desarrollo Vial al Mar S.A.S. – Devimar is the joint venture in charge of the design, financing, environmental and social management, land acquisition, construction, rehabilitation, operation and maintenance of the Autopista al Mar 1 project. The project Autopista al Mar 1 includes the construction of the motorway between Medellín and Santa Fe de Antioquia and the building of a parallel tunnel of 4.6 kilometers at the Túnel de Occidente, improving traffic in and out of Medellín. Besides, the concession contract includes the rehabilitation, operation and maintenance of the whole 176 km concession road. This project is part of the “Vías de la Prosperidad” (motorways for prosperity) program in Antioquia, a plan that will bring multiple benefits for the country and the region; it will improve road security and travel times in the area, reduce transport costs and bring Medellín closer to the Urabá port in the Caribbean Coast. More information about this project is available at www.devimar.co. STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects – on schedule, of the highest quality and at the best price. The hard work and dedication of our more than 75, 000 employees allow us to generate an annual output volume of around € 16 billion. At the same time, a dense network of numerous subsidiaries in many European countries and on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at www.strabag.com. |
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