Odinsa achieves successful refinancing of the Pacífico 2 project with international entities, this ratify their confidence in Colombia

  • Concesión La Pintada, which is in charge of the 4G Pacífico 2 project, signed a credit agreement with four major international financial institutions: Itaú, SMBC (Sumitomo Mitsui Banking Corporation), BNP Paribas and CDPQ to refinance its current debt.  
  • The refinancing, which amounts to US$260 million, will improve the project’s financing conditions and costs.
  • This operation is good news for the sector and the country, as it once again attracts the attention of international investors.
  • The support of Odinsa, its holding company Grupo Argos, and John Laing, shareholders of the concession, gives the transaction a trustworthy seal of approval that motivates the interest of the international banking market.

Medellín, Colombia, July 21th, 2021. Odinsa, a Grupo Argos concession company, reported today a new milestone in its 4G Conexión Pacífico 2 project, in Antioquia, which continues to advance in its purpose of contributing to the connectivity and competitiveness of the country. A new credit agreement was signed in order to refinance its debt in dollars. Four important international entities participated in the transaction: Itaú, SMBC, BNP Paribas and CDPQ Revenu Fixe Inc. (a wholly-owned subsidiary division of Caisse de dépôt et placement du Québec), for a total of US$260 million, which will support efficiencies and improve the project’s leverage and cost structure.

This positive market response shows the confidence of large international investors in Pacífico 2’s management and their interest in continuing to invest in Colombia and its infrastructure, as a key sector for reactivation, competitiveness, and development,” said Mauricio Ossa, president of Odinsa, the majority shareholder of Pacífico 2.

Itaú is pleased to accompany a great partner such as Odinsa in the refinancing of this important project, which has been handled in the best possible way. The works of the project are fundamental for the progress of the country, especially for the companies and the people of Antioquia, the Eje Cafetero and Valle del Cauca. This high-impact project contributes to the joint objective of leveraging and accelerating the country’s productive reactivation,” said Jorge Alberto Villa, Vice President of Wholesale Banking at Itaú Colombia.

At BNP Paribas we remain committed to Colombia’s growth. We consider that infrastructure projects such as Pacífico 2, in charge of first-class sponsors demonstrate that works can be done under the established time, cost and technical conditions.  These projects are vital for the development and competitiveness of the country, showing the capacity of local entrepreneurs to develop projects of great impact and scope“, said Jorge Valderrama, Country Head of BNP Paribas in Colombia.

“Pacífico 2 is a transformative project for Colombia, supporting the efficient movement of people and goods from production centres to ports and increased domestic economic activity. As a long‑term investor, we are happy to contribute again, alongside international financial partners, to the financing of key infrastructure that will have constructive impacts for trade and mobility for generations to come,” said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ.

The project responsible for Concesión La Pintada reports 99.8% of work completed, positioning it among the first fourth-generation (4G) roadway concessions that will finish its construction stage in the third quarter of 2021. It includes 96.5 kilometers in the Primavera-La Pintada and La Pintada-Bolombolo sections, which will facilitate the strategic connection between northern departments of the country, Antioquia, the Eje Cafetero, and the Pacific Coast.

The project’s significant advancement of work, and the positive results in terms of mobility, operations, and social and environmental management, combined with the support of shareholders, Odinsa, its holding company Grupo Argos, and John Laing, provide a seal of confidence in the banking market, allowing a positive response and the achievement of positive conditions for the success of the process.

In the coming weeks, subject to the fulfilment of contractual conditions, funds will be disbursed and used for the payment of debt, shareholder dividends, and project operations.

Finally, it should be recalled that Pacífico 2 was the fifth project of the 4G program to receive its disbursement for the financial close in 2017, in which international entities for the financing of 4G projects in Colombia, such as Itaú and CDPQ, reiterate their confidence in the project by also participating in the refinancing today.

For additional information contact:

Viviana Arroyave, Communications Director / varroyave@odinsa.com / 3176469218.

Visit www.odinsa.com and our social networks @SomosOdinsa on Twitter and Odinsa on LinkedIn.

16 youths from the Province of Cartama graduate as Environmental Technicians to lead the care of the ecosystems in the region

  • The youths are part of the first group of beneficiaries of the Cartama Seedbed project, which seeks to contribute to the development of southeastern Antioquia by training youth on environmental care and management.
  • The youths will join the workforce to cover skilled labor requirements in the region to develop the Sustainable Cartama Alliance Project.
  • The Cartama Seedbed project is a partnership between the foundations of Grupo Argos, Aurelio Llano, Julio C. Hernández, Comfama, SENA, Cartama Province and the Concession of La Pintada, responsible for the Conexión Pacífico 2 project.

With 16 youths from southeastern Antioquia graduating as Environmental Technicians, the Cartama Seedbed partnership made available to the region the first cohort of skilled labor to work on the Cartama project, which promotes the recovery of the forests on the banks of the Cartama River by planting 300,000 trees in 2021 by Grupo Argos in the framework of the Unidos por el Planeta (United for the Planet) initiative signed with the office of the governor of Antioquia.

During 3 semesters, the youths received training from experts on topics such as solid waste management and integrated management of water resources and of the territory. The students had the opportunity to obtain practical professional experience by supporting reforesting activities, advising communities on good environmental practices and environmental education workshops with children and retailers in the region.  They also received one-year licenses for learning platforms to consolidate their bilingual skills.

We are convinced on the transformational role of education in the development of the territories, and for this reason we celebrate the graduation of this first cohort of scholarship beneficiaries who, starting today, will lead in the care of the forests and ecosystems in their region, becoming our partners to promote sustainable development in southeastern Antioquia.”

María Camila Villegas

Operations Director of Fundación Grupo Argos

Aware of the importance of educating people in the region to work in favor of their territory in line with the good sustainability practices of our majority partner Odinsa, we are betting on education as the key pillar to promote development. The southeast is a powerful region that stands out for its drive and the warmth of its people. These youth who graduate today demonstrate that the learning process is ongoing and that it creates huge opportunities when people are committed to it.”

Gustavo Bernal

Manager of Concesión La Pintada. 

“For Fundación Aurelio Llano Posada it is very important to train rural youth in relevant topics for their territories of origin, which enables them to consolidate their roots with the territory where they were born, while at the same time providing them opportunities for professional and personal development. Because of this, the graduation of 16 youths in Environmental Technology, who we supported with other organizations and companies that are present in the area of Cartama, fills us with pride. To the youths and their families, receive our recognition and congratulations.”

Iván Darío Sánchez Hoyos

Executive Director of Fundación Aurelio Llano Posada   

We believe that the sustainable development of a territory is promoted by recognizing the human talent, the wealth of a biodiverse territory, and by working for local employment. Offering opportunities and tools to build life projects in the regions of Antioquia is the decision this group of institutions has made. Today we are planting seeds to continue strengthening talent in the southeast. We hope these trees will grow and to continue planting many more.” 

Mauricio Pérez Salazar

Responsible for regions at Comfama.

This project is one of several initiatives undertaken by the partners, in coordination with the local mayors, to promote development in the region and contribute to the conservation of strategic ecosystems while providing opportunities for education and employment. 

On its part, Fundación Grupo Argos will continue to provide opportunities to youth from the region to have access to educational programs on the environment, sustainable cattle ranching, agricultural sciences and natural resources. 

Download the press kit here: https://we.tl/t3NKXagiGAB  

Press room: https://www.grupoargos.com/esco/media/noticias  

For additional information, contact:

Iván Trujillo Institutional Relations and Communications Manager itrujillo@grupoargos.com Mobile: 313 8291863      Manuel Valencia       Communications Director mvalencia@grupoargos.com  Mobile: 3113845611

Grupo Argos and its concession company Odinsa highlight two new milestones of their 4G Conexión Pacífico 2 road project, which has reached a completion rate of 93.47%

  • As part of the visit to Pacífico 2, the President of Colombia observed the progress of the Cauca Bridges, an important and iconic work of the project that has become a new milestone. It is made up of 490-meter bridges that rise up to 112 meters over the Cauca River, a little more than half the height of the Colpatria Tower in Bogotá.
  • Also, in an official act chaired by the President of Colombia, the Minister of Transport and the President of ANI, together with Grupo Argos, Odinsa and La Pintada concession, which is in charge of the project, the inauguration of the new Operations Control Center of Pacífico 2 was held.
  • Conexión Pacífico 2 currently reports a completion of 93.46%, positioning itself among the first 4G road concessions projects to finish the construction stage

October 9, 2020. Grupo Argos and its concession company Odinsa continue making progress in their goal to contribute to the country’s connectivity and competitiveness. This Friday, the companies, along with their La Pintada Concession, in charge of the Conexión Pacífico 2 Project in Antioquia, reported the achievement of two new construction milestones through which the project is steadily making progress in its execution and contribution to the region’s development:

Cauca Bridges

The closing of key segments of the Cauca Bridges is a great engineering milestone of the Pacífico 2 project in which both work fronts, advancing from each end of the bridge, met, thus enabling transit from one side to the other.

This important and iconic work of the project is made up of 490-meter bridges that rise up to 112 meters over the Cauca River, a little more than half the height of the Colpatria Tower in Bogotá.

The closing of key segments of the bridge is a very important step in the mission to connect the southern, central and northern regions of the country, with works that meet the highest quality standards to contribute to the connectivity, development and competitiveness of Colombia.

Pacífico 2 Operations Control Center

Additionally, the President of Colombia inaugurated the new Operations Control Center, which will operate as a space for community use to promote the integration and implementation of various social and cultural activities.

It is an infrastructure designed by renowned Colombian architect Giancarlo Mazzanti, inspired by the region’s coffee plantations and whose highly visible red deck makes it an aerial landmark.

The CCO is equipped with modern technology tools to monitor the safety of road users and will also become a place of community use for various social, cultural and educational activities such as farmer’s markets and tourism circuits, among others.

The new work was officially inaugurated in an event chaired by the companies, the President of Colombia, Iván Duque Márquez, the Minister of Transport, Ángela María Orozco and the President of the ANI, Manuel Felipe Gutiérrez, attended by the Governor of Antioquia and the mayors of the municipalities neighboring the project and representatives of other entities.

“The Conexión Pacífico II project is a forceful and tangible demonstration of Grupo Argos’ confidence in the country, in institutionality and in the boost to infrastructure led by the Colombian Government. Through Grupo Argos, we will continue to promote transformational projects that create social value and contribute to economic revitalization and rapid reactivation,” said Jorge Mario Velasquez, CEO of Grupo Argos.

“We celebrate this new milestone of engineering, sustainability and social management achieved by Conexión Pacífico 2, a project that has contributed to the connectivity of the region, its social and economic development and its environmental protection” said, Mauricio Ossa, CEO of Odinsa.

These milestones are added to the outstanding management of the project throughout its execution in which it has created more than 3,500 jobs and achieved other important goals in terms of financing, operations, infrastructure, and social and environmental management.

Odinsa ratifies its commitment to sustainability with concrete actions to protect ecosystems and mitigate climate change

  • Odinsa, the Grupo Argos concessions company, commemorates the World Water, Animal and Habitat Days by working resolutely on the mitigation of climate change and the protection of water and biodiversity
  • Sustainability is a fundamental pillar of the Company’s strategy, which is why it designs, adapts, implements and shares with its road and airport concessions the best practices for generating shared value.
  • Resilient and low-carbon infrastructure, identification and protection of wildlife, management of water and natural resources, and planting trees in exchange for toll payment are some of the actions taken as part of its commitment.

October 5, 2020 Odinsa, the Grupo Argos concessions company, continues to advance steadily in its sustainability strategy, under which it is implementing various mitigation, compensation, adaptation and conservation initiatives in its road and airport concessions in accordance with the priorities of the regions, in order to address climate change and protect ecosystems.

“We are working with conviction and commitment, promoting good practices as part of our proposal to create value and manage projects in a responsible manner, in the pursuit of sustainable growth and environmental care” said Mauricio Ossa, Odinsa’s CEO.

The company commemorates the World Water, Animal and Habitat Days by working resolutely on the mitigation and adaptation to climate change and the protection of biodiversity and water resources, contributing to their conservation, using them rationally and fostering their value as a natural and tourist heritage for communities and their development. Some of the activities and projects recently implemented and underway are highlighted below:

The Protection of Biodiversity, a Top Priority

The company protects places of high value to flora and fauna, and prevents, mitigates and offsets interventions in ecosystems.

  • Its Fourth Generation (4G) Conexión Pacífico 2 road project in Antioquia has positioned itself as a pioneer in wildlife crossings in Colombia and in road ecology, as it is currently building 25 wildlife crossings and conducting studies associated with artificial intelligence to monitor and identify the species that cohabit in the project’s area of influence and predict points where wildlife could be run over.
  • Additionally, Pacífico 2 promoted the creation of the first Habitat Bank in Antioquia, second in the country, approved by the Ministry of the Environment consisting of 800 ha, of which the project will acquire 400 ha for offsetting. By 2028, it expects to comply with the plan for offsetting 2,000 ha and the conservation and restoration of 11,000 ha of strategic ecosystems through voluntary actions and agreements with partners in the region. As part of this goal, the concession contributes to the protection of the tropical dry forest and has provided for a 30% increase in the existing coverage, adding 2,050 hectares to the little more than 6,000 hectares existing at present.
  • Currently, Pacífico 2 is working on the development of a Tropical Dry Forest (TDF) Training and Research Center in La Pintada, which will contribute to the production and strengthening of technical and scientific capacities in the region, for its sustainability and adaptation to climate change. It will have spaces open to the community and universities, an environmental classroom, and will develop a productive and scientific nursery that will contribute to plant production, the generation of knowledge about the TDF and research.
  • In turn, with the aim of contributing to the reforestation of the region, and the mitigation and adaptation to climate change, between August and September, Autopistas del Café and Conexión Pacífico 2 launched the environmental initiative: A Toll for a Tree. A pilot project through which users were invited to request the planting of a tree on their behalf by attaching the photo of their toll receipt. As part of this pilot, each concession planted 1,000 trees from native species.

Contributing to the Availability and Quality of Water, a Vital Issue

The company measures its water footprint in concessions and projects on an annual basis and executes plans for the optimization of its consumption and reuse.

  • Currently, its road project Conexión Pacífico 2 in Antioquia is carrying out conservation and voluntary reforestation actions in the basins of the Cartama, Piedras and Mulatos Rivers in Antioquia, in strategic areas of ecosystem services by planting more than 240,000 trees in the last year, as part of its goal of reaching 11,000 voluntary hectares for the protection of these basins that supply the communities in the region.
  • Autopistas del Café, in the Coffee-growing Region, has reforested 25 hectares with more than 27,500 endemic trees of the region, with the aim of protecting the Quindio River Basin, benefiting the water supply of the municipalities of La Tebaida, Circasia, Salento and Armenia in Quindio. Additionally, the National Environmental Licensing Agency (ANLA, for the Spanish original) approved the construction of a wastewater treatment plant in the District of Tribunas in Pereira, which will benefit more than 2,000 people, in addition to the construction of 179 individual septic systems in Manizales, Santa Rosa, Salento and Filandia. Also, Autopistas del Café installed a hydrometeorological station in the El Rosario Stream in Manizales and delivered two more stations to the Quindío environmental authorities, with the objective of monitoring and controlling the flows and rainfall of the basins that supply the aqueducts of a large part of Quindío, being an important instrument for the generation of early warnings of flash flooding for timely evacuations.
  • El Dorado International Airport has a Rainwater Treatment Plant that allows it to harness and recirculate the treated water, which is used in the batteries of restrooms of the entire terminal. It treats more than 25,000 m3 of rainwater per year, which is equivalent to the hydration of more than half a million people in the same period of time.

Tackling Climate Change, a Mission

Odinsa contributes to the transition to a low-carbon development model with resilient infrastructure and the implementation of systems for the measurement, offsetting and mitigation of carbon emissions. The Company is currently defining its emissions reduction targets, projected under the Paris Agreement scenarios for the years 2025 and 2030.

  • Aeropuerto El Dorado, in a partnership with Celsia, completed the largest photovoltaic installation in air terminals in Latin America with a system of 10,369 solar panels already in operation, which will stop the emission of 1,375 tons of CO2, equivalent to the carbon captured by 76 thousand mature trees
  • Additionally, El Dorado implemented the Science Based Targets© methodology so that the objectives and targets adopted by the airport to reduce greenhouse gas (GHG) emissions are in line with the latest climate science and contribute to meeting the objectives of the Paris Agreement 2015.
  • Aeropuerto Mariscal Sucre was consolidated as the first terminal in Latin America to validate its carbon neutrality granted by the Airport Carbon Association of the Airports Council International (ACI) and Aeropuerto El Dorado received the Level 2 Reduction Certification for reducing the intensity of its emissions.

Finally, Odinsa, the concessions company of Grupo Argos, indicated that it will continue working on the framework of its sustainability policy and in a cross-cutting manner, on all its road and airport concessions in Colombia, Ecuador, Dominican Republic and Aruba, in the development and implementation of good practices that drive competitiveness, create shared value and promote environmental care.