Odinsa achieves the financial closing of its 4G project Malla Vial del Meta with national institutions, which confirms their confidence in the country’s infrastructure

  • Odinsa, the concessions company of Grupo Argos, obtained financing for COP 590 billion through the institutions Financiera de Desarrollo Nacional (FDN), Bancolombia and Davivienda.
  • This important milestone clears the way for signing the certificate of commencement for the project and to move forward in its performance within the established terms to drive the department’s competitiveness and development. 
  • Total investment in the project will be COP 1.6 trillion for the construction, operation and maintenance of 267.5 kilometers of roads and will create approximately 4,800 direct and indirect jobs.
  • The project is currently making satisfactory progress on the prioritized works, which were initiated early in 2021: the road pair La Cuncia and the access roads to Puente Yucao. 

Medellín, April 2022. Odinsa, the concessions company of Grupo Argos, continues to move forward in its objective of contributing to the competitiveness of the department of Meta and the country. The Company completed the financial closing of its project Malla Vial del Meta with three important banking institutions: Financiera de Desarrollo Nacional (FDN), Bancolombia and Davivienda, in the amount of COP 590 billion.

Completion of the financial closing of this 4G project, which consists of 267.5 km of roads, clears the way for signing the certificate of commencement to begin the construction stage, ensuring the cash flows to move the works forward at a good pace and thereby improve the mobility in the corridors Villavicencio–Granada and Villavicencio–Puerto Gaitán and Anillo Vial de Villavicencio, with 7.25 km of new roads, 26 km of a second lane, 3 km of improvements, 10,9 km of bike paths and other works such as vehicle and pedestrian bridges.

“This closing of our project Malla Vial del Meta strengthens the confidence of the financial sector in Colombia and its infrastructure projects, confirming them as a driver for the country’s development, reactivation and competitiveness,” said Mauricio Ossa, CEO of Odinsa, the majority shareholder of Malla Vial del Meta.

“This good news will enable us to continue moving forward in the connectivity of the region and to continue developing our project’s work plan, to contribute to the well-being of Meta and its inhabitants,” said Gustavo Ordoñez, Vice-president of Road Concessions of Odinsa.

Malla Vial del Meta will directly benefit close to one million residents of the municipalities of Villavicencio, Acacías, Guamal, San Martín, Granada, Puerto López and Puerto Gaitán, as well as the residents and users in neighboring towns to the area of influence. It will help to significantly reduce the traffic of tractor trailers on the inner city roads of Villavicencio; reduce operating costs and travel times; and create approximately 4,800 direct and indirect jobs during the construction stage.

It will additionally help drive the economy, tourism and mobility of Meta, considering that significant industrial livestock and pig farming activities are currently carried out in the department, which also makes a substantial contribution to Colombia’s agriculture with approximately 18,000 hectares planted with sugar cane, 16,000 of natural rubber and 8,000 of oil palm. These factors make the region one of the most important for the transportation and trading of food products.

Once the certificate of commencement is signed, works will begin on the sections Granada- Guamal; Guamal- Acacías -La Cuncia and La Cuncia-Ciudad Porfía, to later begin the scheduled works on the other sections of the project. It should be recalled that once the project was reactivated in 2021, construction began early on two top priority works, which to date are making satisfactory progress with a 60% completion rate, and which have created close to 100 jobs in the region: the road pair of La Cuncia, near the Guayuriba River, in the corridor Villavicencio – Acacías, and the access roads to Puente Yucao, between Puerto López and Puerto Gaitán.

Odinsa, jointly with its Concesión Vial de los Llanos and the National Infrastructure Agency, will continue to work decidedly and with a high level of commitment, to contribute to the development of the region and to drive the competitiveness of the department and the country.