The Project company is Autopista del Rio Grande S.A.S. (“ARG”), a special purpose vehicle incorporated in Colombia. ARG is owned by Ortiz Construcciones y Proyectos S.A. and KMA Construcciones S.A.S, with a 50% shareholding each.

Grupo Ortiz is a leading Spaniard construction conglomerate with presence in 13 countries across Europe, LAC and Asia. The company operates +1,185km of toll roads including 282km in Colombia.

KMA is a construction company in Colombia with 21 years of track record. The company has built +1,000km of toll roads in Colombia and is one of the top contractors for civil works, industrial buildings, water & sewage, and real estate.

The Project cost is estimated at COP$3.6 billion (c.US$911 million). IFC intends to provide an A loan of up to US$135 million in COP equivalent.                                                 

TM2 is located in Colombia and crosses the regions of Santander and Cesar.                                                

This is a Category A investment per IFC’s Environmental and Social Sustainability Policy because the project will have potentially significant adverse E&S risks and/or impacts that are diverse, irreversible, or unprecedented. The key E&S aspects associated with this project are related to: (i) Company’s capacity to implement the E&S management system (ESMS) to manage E&S risks of the construction of the second lane, bypass roads,  and simultaneous O&M activities along the concession, (ii) fair and safe working conditions and management of occupational health and safety (OHS) aspects; (iii) contractor E&S management; (iv) emergency response and preparedness; (v) gender and Gender-Based Violence and Harassment (GBVH); (vi) resource efficiency, erosion control and reinstatement, management of waste,  and emissions, including environmental noise from traffic; (vii) managing the land acquisition process, which include past, ongoing and future resettlement; (viii) biodiversity management including restoration of affected areas, fauna passages and overall impacts minimization; (ix) protection and management of cultural heritage sites, and (x) appropriate stakeholder engagement.