COFIDES, through the Overseas Investment Fund (FIEX) and its own resources, has decided to increase its stake in the capital of Sisga Transversal Concession from 24,9% to 49,9%. In addition, subordinated debt has been granted for the remaining amount, reaching a total of 19,5 million euros. The main objective of this capital injection is to acquire half of the stake currently held by a local partner in the project.
The Transversal del Sisga concession, a 137-kilometer road corridor, is part of the fourth-generation road concession program of Colombia, known as "4G". This project, which is already fully operational, has transformed connectivity in the center of the country, benefiting more than 5,2 million inhabitants in the departments of Cundinamarca, Boyaca and Casanare.
COFIDES supports Grupo Ortiz again in this project, after participating in 2018 in the capital and subordinated debt of the company
The collaboration between COFIDES and Grupo Ortiz on this project is not new. In 2018, COFIDES had already participated in the financing of the concession, demonstrating its confidence in Grupo Ortiz's ability to carry out projects of large-scale infrastructure in Colombia. Grupo Ortiz has vast experience in the country, with participation in various road concessions, transmission lines and hospital projects, four of which have the support of COFIDES.
"For COFIDES, it is very important to collaborate with Spanish companies in the implementation of large infrastructure projects that contribute to improving connectivity and economic growth," he stated. Miguel Ángel Ladero, corporate director of the Investment Department at COFIDES. "This project is a good example of an innovative and sustainable infrastructure concept."
Alberto de la FuenteThe director of concessions for Grupo Ortiz highlighted the importance of the ongoing collaboration with COFIDES. "Expanding our stake in the Sisga Transversal Concession reinforces our commitment to Colombia and to the development of its transport infrastructure," he stated.
This project not only represents a step forward in Colombia's road infrastructure, but also has a significant impact on job creation. According to data provided, the concession has generated more than 8.700 direct jobs, thus contributing to Sustainable Development Goal 8, which promotes decent work and economic growth.
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