Spanish project developer Sacyr has won a $526 million public-private partnership contract to build a toll road in north-east Colombia, according to the country's project procurement agency.
Sacyr won a PPP contract to design, build, finance and maintain Colombia's Cúcuta-Pamplona highway. Colombia's National Infrastructure Agency selected the Spanish developer over a consortium including Cintra and Israeli construction firm Shikun & Binui, and CCA Civil Colombia.
The 62km toll road project is part of the third wave of Colombia's 4G program to construct 8,000km of new highways. Sacyr's contract calls for the company to develop a second lane through 42km of existing road, revamp 16km of existing road and construct 4km of new road.
ANI president Luis Fernando Andrade said in a statement the project is “part of the process of reactivating the economy” by bringing in foreign capital and adding 4,000 jobs to Colombia's northeastern Norte de Santander department.
Sacyr has submitted a $23.3 million financial commitment for the project to Colombian bank Davivienda, and the PPP contract is expected to be signed in May.
Last October, Sacyr led a consortium that won the first public-private partnership contract in Paraguay. The $520 million project is to widen and maintain federal motorways that are part of the pan-American highway.