New highway for Colombia with financing secured

A finance package has been secured for Colombia’s Pasto-Rumichaca fourth generation (4G) road project. A loan package worth US$$593.6 million from a series of backers will underscore the project. These are; the Overseas Private Investment Corporation (OPIC), Spain's credit institute Instituto de Credito Oficial (ICO), JP Morgan, MetLife, Banco Santander, Sumitomo Mitsui Banking, Mitsubishi UFJ Financial Group, Credit Agricole, and Bank of China.

The project is for work to an 83km section of the route, including building 78km of dual carriageway between Rumichaca and Catambuco. It also includes improving the 5km section from Catambuco to Pasto. The whole project is being handled by the concessionaire Union del Sur.

Once the work is complete, journey times between the south of Colombia and Ecuador are expected to be halved.