Smitco asks IFC for US$15.8mn to remodel Santa Marta container terminal

Colombia's Santa Marta International Terminal Company (Smitco) is requesting a US$15.8mn loan from the International Finance Corporation (IFC), the financial entity reported on its website.

The project involves the refurbishment and operation by Smitco of a container terminal inside the Santa Marta port.

The initiative involves an estimated total investment of US$50mn to refurbish two berths with a combined total length of 322m; the installation of two post-panamax ship-to-shore cranes, four gantry cranes, and other handing equipment; and the demolition of existing buildings and expansion of the container yard from 4 to 8ha.

Upon completion, the terminal's container handling capacity will increase from 120,000 TEUs to 300,000 TEUs.

Santa Marta is Colombia's third largest port and is located 1,139 km north of capital Bogota on the Caribbean coast.

Smitco is approximately 51% owned by Sociedad Portuaria de Santa Marta (Sprsm) and approximately 49% owned by an indirect subsidiary of privately held US firm Carrix.

Sprsm operates Santa Marta port under a concession ending in 2033 and is owned by private investors, Magdalena department, the Santa Marta municipality and the transport ministry.

Publication: Business News Americas - English News
Provider: Business News Americas
November 9, 2009

Investments in civil engineering projects up by 42% in Q2

Figures from the national statistics office, Dane, show that total investments in civil engineering works experienced a year-on-year growth of 42% in Colombia in the period between April and June 2009. The group of ports, dams, and other dredging-related projects recorded an increase of 101.5%, whereas energy and mines posted a 42% hike. Meanwhile, Dane has added that investments in roads, bridges and similar structure climbed by 28.5%, on the same period in 2008

Publication: Esmerk - News monitoring
Provider: Esmerk
September 8, 2009

IFC supports Colombian transport infrastructure

The IFC has provided US$45mn to rehabilitate Colombia’s capital city Bogotá’s road network, and to build sidewalks and bikeways. The money has been provided through a joint initiative with the World Bank that supports municipalities in delivering key infrastructure services, including water, wastewater management, transportation, and electricity and other local public entities in development countries, without sovereign guarantees.

“It enables the city to continue diversifying its sources of financing for major projects. It also helps the city depend less on the central government for resources and minimises the number of guarantees and pledges against revenue that the city must establish to raise the funds it needs,” comments Juan Ricardo Ortega López, Bogotá’s secretary of finance. Robert Albisseti, IFC country manager, adds: “The financing is also part of IFC and the World Bank’s strategy to promote sustainable growth in Colombia by supporting key infrastructure projects.” This is IFC’s second project with the city, having previously helped Bogotá simplify a system for inspecting companies’ environment, health, and safety planning and fire prevention.

Publication: Global Trade Review News
Provider: Exporta Publishing & Events Ltd
Date: September 8, 2008

Paper: At least 6 cos interested in La Línea tender

At least six international companies have contacted officials at Colombian national road institute Invías to discuss the tender process for the construction of La Línea tunnel, local paper El Nuevo Día reported.

The companies that have expressed interest in taking part in the tender process are Italian firm Impreglio, Spanish firm OHL, Brazilian firm Andrade Gutiérrez, Argentina's Iecsa, Korean firm Taeah Construction and Chinese company Asia Tech Intl.

In February, the transport ministry and Invías relaunched the international tender process for the construction of the Cordillera Central pass, which includes the construction of the parallel II Centenario and La Línea tunnels, of 8.8km each, and the expansion of the Calarcá-Cajamarca highway by 23.7km.

The initiative was divided into five stages and bidders are requested to submit separate offers for each stage. Authorities will select the best technical and economic offers for each stage.

The official budget is set at 612bn pesos (US$322mn), but the winning company or companies will receive tax benefits through the El Vallejo plan, which reduces the cost of importing the supplies necessary to carry out works.

The project is expected to take 70 months to complete. Authorities hope to see the expanded highway and the excavation of the first tunnel ready by 2010.

The first tunnel is slated to begin operating in 2012, while the construction of the second is expected to conclude in 2013.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: March 10, 2008