Odinsa S.A. informs that today, its Board of Directors authorized to renew for the year 2021 the guarantee with which guarantees credits of the Farallones Consortium up to sixty billion pesos (COP 60,000,000,000), with the aim of covering the capital needs of work presented in said consortium during this year and to complete the activities of the Construction Phase of the highway concession project called Autopista Conexion Pacífico 2, which is executed by Concesión La Pintada SAS.
The Pacific Connection 2 Highway project is made up of 5 functional units (FUs) and is currently 97.84% complete. This is how FU 1 and FU 5 have already been delivered to the National Infrastructure Agency (ANI) as granting entity, FU2 and FU3 are in the process of delivery, and FU4 is estimated to be completed and will be delivered in April of this year.
Odinsa has a 50% stake in the Farallones Consortium, which has been carrying out the activities corresponding to the Construction Phase of the Pacific Connection 2 Highway project under the most demanding environmental, social and design standards, of the 96.5 kilometers of the Project, in the sections Primavera – La Pintada and La Pintada – Bolombolo (Antioquia), which includes the construction of the 2.5-km double-tube Mulatos Tunnel, the bridge over the Cauca River with a length of 500 meters, other more than 40 bridges , 42 km of new road, 39 km of dual carriageway and a state-of-the-art operations control center.
This work is part of the first group of Fourth Generation road concessions in Colombia and together with Pacífico 1 and 3 will connect the north of the country with Antioquia, the Coffee zone, Valle del Cauca and the Colombian Pacific, managing to reduce the time of travels up to 25%