Sacyr Concesiones has successfully secured COP$3.66 billion (approximately €780 million) in financing for the Buenaventura – Loboguerrero – Buga road corridor concession, a project that will greatly benefit the population of Valle del Cauca by improving connectivity to the port of Buenaventura in Colombia.
This financing operation, executed in Colombian pesos to mitigate potential currency fluctuation risks, was led by JP Morgan, with participation from IDB Invest, IFC, Bancolombia, BBVA, FDN and Bancoldex.
This financing aligns with Sacyr's Sustainable Financing Framework, adhering to the highest international sustainability standards and ensuring rigorous reporting. Sustainability indicators include reducing contaminating gas emissions and increasing the hiring of female talent in the surrounding communities.
Sacyr Concesiones will invest COP$4 billion (approximately US$904 million) to upgrade, operate, and maintain the road over the 29-year concession term.
The road corridor spans 128 kilometers, with 35 kilometers of new divided lanes being added, and an existing 118-kilometer section. It's a crucial artery connecting the port of Buenaventura with the interior of Colombia.
The project, managed by concessionaire Unión Vial Camino del Pacífico (100% Sacyr Concesiones), is expected to have a significantly positive impact on Valle del Cauca, creating over 6,000 direct jobs (indirect and induced). Road users will benefit from a safer, more comfortable route, reducing travel times by approximately 30 minutes.
Road corridor details
Awarded by Colombia’s National Infrastructure Agency (ANI), the project includes the upgrading of 155 existing road km, rehabilitating 15 km, improving 33.7 km, and constructing 35 km of new divided highway. Since the contract began in August 2022, Sacyr Concesiones is responsible for the operation and maintenance of a total of 244 km, including the entire second roadway.
The project scope includes slope stabilization, the construction of two short tunnels totaling approximately 1.4 km, and the operation and maintenance of the existing 17 tunnels with a combined length of 9.3 km.
Sacyr Concesiones in Colombia
This road corridor is Sacyr's fifth highway project in Colombia. The company also operates the Puerta de Hierro Highway and is currently developing the Restoration of the Degraded Ecosystems of the Canal del Dique project.
