Iridium Concesiones de Infraestructuras, together with Episol, have attained the financial closure of the Pacific Project 1, a tender from the National Infrastructure Agency (NIA) covering the financing, design, construction, operation and maintenance for 29 years of 48.7 kilometres of Columbian highway. The project involves a total investment of 1,250 million dollars and is the largest in the first 4G stage and one of the most significant that has been given in Columbian project financing. This is the first 4G financing in which international banking is participating
Iridium, together with Episol, has reached the financial closure of Pacific 1. The project financing, which amounts to approximately 900 million equivalent dollars, has been structured into two banking sections. The first section, denominated in Columbian Pesos, is for an approximate amount of 2,150 Columbian Pesos and the second comes to 150 million US dollars. 100% of the financing for both sections is subscribed by Columbian and international commercial banks and is the first 4G financial in which international banking is participating.
This project for a highway of approximately 49.7 kilometres is southwest of Medellín, between the district of Bolo bolo and South Ancón and its area of influence includes the municipalities of Venetia, Titiribí, Amagá, Caldas and La Estrella in the Antioquia Department. The construction work is structure into four functional units and contemplates 32.1 kilometres of new roadways, four tunnels and fifty-four bridges.