Sacyr solves mobility issues between Colombia and Venezuela with the construction of the Pamplona-Cúcuta highway

22/04/2020

Sacyr Concesiones, via the Unión Vial Río Pamplonita concession, has recently secured the financing (520 million dollars) for the Pamplona-Cúcuta highway in Colombia.

This transaction guarantees the investment to build this 62 kilometre road project and will solve mobility issues between Colombia and Venezuela,as well as the northeast of the country. It will reduce travel times, operating costs for users and improve the quality of life of the region’s inhabitants. 

At present, the project is in the construction stage, with a total progress of 14%. Operations are undergoing on 80 work fronts, generating 2,224 direct and indirect jobs, over 70% of which belong to the region. 

The concession has already carried out more than 90 socio-environmental and sales training and promotion activities that have directly and indirectly benefited over 2,400 people.    
Pamplona – Cúcuta is one of the four roads that Sacyr Concessions is developing in Colombia, within the Fourth Generation (4G) projects, launched by the government of the country. 

Société Générale played an important role in this deal as one of the banks that is financing and hedging the risks in this project.
 

«  We are committed to support our clients in this unprecedented context, especially in projects like this that will improve the quality of life of the region’s inhabitants  »

Carlos Gómez de Olea
Senior Banker for Societe Generale