Financial closure achieved for road project in Colombia

WCN Editorial Team 30 May 2016 SOUTH AMERICA TRANSPORT INFRASTRUCTURE

Israel-based infrastructure firm Shikun & Binui has secured financing for the Cundinamarca 010 Toll Road Project in Colombia.


The $640M project, part of a multinational plan to improve the country's road infrastructure system, includes the financing, construction, rehabilitation, operation and maintenance of a toll road that will span over nearly 154km.

Shikun & Binui's subsidiary SBI, will provide construction services for the project agreed with the Government Infrastructure Authority at the Colombian Ministry of Transportation (ANI).

The concession has tenure of 25 years, with an option to extend up to 29 years.

Shikun & Binui chairman Moshe Lahmani said: "The financial closing of the project in Colombia is an additional significant milestone in realizing the Group's international strategy to expand its international infrastructure activity, and diversify its global operations.

"The completion of the financial closings in the USA and now in Colombia will contribute to the Group's record backlog. We will continue to compete for new mega projects in line with our strategic targets."

* Data provided by Timetric's Construction Intelligence Center.

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