A conglomerate led by Bogota-based KMA Construcciones has been awarded a 1.44 trillion pesos ($486 million, €458 million) highway project by the Colombian government.
Ruta Caribe 2, a PPP aimed at strengthening the link between the cities of Cartagena and Barranquilla in the country’s north, calls for the construction of an additional 95km of roadway as well as the maintenance and operation of more than 250km. Colombian Vice-President Germán Vargas Lleras called the project a “very important initiative” that will “benefit commerce and transportation of cargo” as the agreement was announced last week.
The conglomerate comprises KMA, which controls half of the group, along with Madrid-based Grupo Ortiz (30 percent) and Bogota-based Obresca (20 percent). KMA had originally presented a plan for the project to the government, and Lleras said no other company competed with the group’s proposal.
The scheme is expected to take eight years to complete, including a 1.5-year preconstruction phase, according to the president of Colombia’s National Infrastructure Agency. It will add two bridges and six intersections.
With the Ruta Caribe 2, Colombia now has 12 PPPs in development, Lleras noted.