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| Strabag: Financial close of its project «Autopista al Mar 1» in Colombia completed  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%).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. 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. write your comments about the article :: © 2019 Construction News :: home page |