Today in New York City, Constructora Meco and its concessionary partners reached the financial close for the Pacifico Tres Concession that included local bank loans and international bonds issuing in US dollar and Colombian UVR’s. This project-structuring amounted to 882 million US dollars.
The Pacifico 3 Concession entails 231 kilometers of road construction, 26 bridges and 3 tunnels, one of them 3.4 kilometers long in Tesalia. This new road will benefit farmers, ranchers and small industries like tourism and commerce. The Project will roughly generate 4,100 new employments during the five-year construction period.
For Carlos Cerdas, president of Constructora MECO it means a great achievement for Latin America that demonstrates that it´s possible to develop infrastructure when the public and private sectors come together to execute the modern roads needed in our countries.
The bonds issuing demonstrates that the Colombian government and the international stock market trust our company and our partners for the construction of this great project. Also, it confirms that professional and world-class financial structuring is possible in Latin America.
It gives us great satisfaction to be a part of the development of this great country with the construction of roads that will be vital to increase productivity and quality of life for thousands of people.
Cerdas assures that when there´s a clear vision, decision and trust, is possible to carry out great endeavors.
The concession projects in which Constructora MECO is an active participant, are a part of the National Insfrastructure Agency of Colombia’s (ANI) aggressive project called Fourth Generation Concessions (4G) starting between 2015 and 2020. This $26,000 million US dollar program includes 40 road projects that by the end of the decade will entail 12,000 kilometers of quality roads in this South American country.
Constructora MECO is the infrastructure leader in Central America and Panama. The company plans to expand operations to Peru and Ecuador and consolidate its presence in the north of South America with headquarters in Colombia.
Pacifico Tres Concession Project Quick Facts
$882 millon dollars
Conecting the coffee industry in Colombia
The Concession takes place between the cities of Antioquia, Caldas y Risaralda. It´s purpose along with the Autopistas Conexión 1 y 2 concessions is to connect the Buenaventura port to the three main production centers of three of the most important regions for the country´s development: Valle del Cauca, coffee regions and Antioquia.
Farmers, ranchers, ceramic, hand-made, panela, sweets and hotel industries, as well as commerce.
It will save more than 25% of the current travel time between Medellin and La Pintada