Cementos Argos (Cemargos) gets US$159mn loan to up production

Colombia's biggest cement company Cementos Argos (Cemargos) has obtained a US$159mn loan to expand its productive capacity, the company reported to financial regulator Superfinanciera.

The company obtained the loan from Citibank and the Danish export promotion agency EKF.

The loan will cover the purchase of new equipment to expand the company's Cartagena cement plant production by 1.8Mt/year.

The company will pay for the loan over an 11.5-year period, with a rate at 1.11% over Libor.

Cemargos belongs to Colombian group GEA.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: January 2, 2008

IDU awards Transmilenio road construction supervision contracts

The urban development institute (IDU) in Colombian capital Bogotá has awarded the supervision contract for the construction of two lanes to be used by public transport system Transmilenio, IDU reported in a release.

The works are part of the system's third phase and were awarded to a total of two companies and three consortiums, which will supervise the lanes' construction that is slated to last 21-27 months.

The construction of the Carrera 10 lane runs from streets 31 Sur and 30 Sur, and streets Carrera 5 and Carrera 10 will be supervised by consortium Interventorías Troncales 2007, comprised of companies Interventorías y Diseños Interdiseños and Compañía de Estudios e Interventoría. Works are to last 26 months.

The company Poyri Infra was awarded the control over the construction of the exclusive bus lanes along street Carrera 10, between streets 30 Sur and 7. Works are expected run 23-25 months.

Consortium IML - composed of firms MAB Ingeniería y Consultoría, Ingeniería y Consultoría Ingecon and Latino Consult - was awarded supervision over construction of the bus lane along street 10, between streets 7 and 34, and of the lane along street 26, between street 19 and avenue 19. Works will take 23-26 months.

Consortium Intercol - comprised of firms Investigación y Control de Calidad Incosa, Vías y Ambiente Viambiente, Obras y Proyectos RP and Gestión de Proyectos de Ingeniería GPI - was awarded the supervision of lane construction along street 26, between streets Carrera 19 and Transversal 76. This project is slated to last 21-27 months.

Finally, the company Ingenieros Consultores Civiles y Eléctricos Ingetec will be in charge of supervising the construction of the lane Troncal 26, along street 26, expected to last 27 months.

Troncal 26 will total 12.2km, while Troncal Carrera 10 will total 7.2km.

The construction of the two lanes will launch once the pre-construction phase wraps up in June 2008.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: January 2, 2008

GE looking to grow on many Colombian fronts

The US giant General Electric (GE) wants to enter new businesses in Colombia and expand in areas where it already has a Colombian presence, announces the president of GE for Northern South America, Fabiola Sojet. One priority identified is growth via Colpatria with products such as credit cards whilst organic and non-organic growth will both be embraced (GE wants to buy another Colombian bank if possible); further micro-credit opportunities for GE Money will be sought whilst the multinational also wants to grow its role as a supplier of equipment and technology for infrastructure in sectors such as rail, air, ports and basic sanitation.

GE is in talks with Odinsa about becoming a partner in the expansion of the freight terminals at Eldorado airport. It has also been in talks regarding becoming a partner in the logistical centre Porta, set to go up near Eldorado, planned by Ospinas. GE is considering building or buying a plant for the manufacturing of chemicals used to purify water.

It is also close to sealing an alliance with Nalco de Colombia Limitada. GE Colombia, which doesn't include electrodomestics or financing, expects to post sales of US$135mil in 2007 and US$180mil in 2008. In association with Mexico's Grupo Mabe, GE has a white-goods factory in Manizales.

Publication: SABI - Business News
Provider: South American Business Information
Date: December 29, 2007