Summary of Proposed Investment
Project Number
7250
Company Name
Proyectos de Infraestructura S.A.
Date SPI Disclosed
Apr 12, 1996
Country
Colombia
Industry
Infrastructure
Status
Completed
Sector
Highway Operations (Includes Toll Roads)
Department
Regional Industry INF LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Jun 26, 1996
Signed : Dec 20, 1996
Invested : Jun 9, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Colombia-Buga-Tulua-La Paila Highway |
| Region | Latin America and Caribbean |
| Sector |
Projected Board DateApril 22, 1996
Company NameProyectos de Infraestructura, S.A.
Technical Partner and/or Major Shareholders
The project is being developed by Proyectos de Infraestructura S.A. (PISA), a Colombian company owned 20% by Grupo Ferrovial S.A., 20% by Construcciones Civiles S.A., 20% by Corporacion Financiera del Valle, 20% by Central de Seguros, 15% by Instituto de Fomento Industrial, and 5% by Thomas Greg & Sons Company.
Project Cost Including proposed IFC investment
The estimated total project cost is US$92.4 million, including civil works, acquisition of the right-of-way, contingencies and financial fees during construction. IFC’s proposed investment would include a loan of up to US$14.0 million and an equity investment of up to US$4.0 million.
Location of project and Description of site
The Buga-Tulua-La Paila highway originates about 50 km north of Cali and constitutes a 60 km link in the principal highway connecting Cali with Bogota and Medellin.
Description of Company and Purpose of Project
The project is to rehabilitate and expand the existing two-lane 60 km road from Buga to La Paila into a four-lane highway with modern services, including emergency assistance and security patrols. The 23 km section between Buga and Tulua has already been completed, while the remaining 37 km section between Tulua and La Paila will be completed under the proposed project. The project is being developed under a 20-year concession from Departamento de Valle del Cauca which was awarded to PISA in September, 1993 following a competitive bidding process. The project is expected to substantially improve road conditions and traffic safety.
Environmental Category and Issues
This is an enviromental review category B project; principal issues include: air emissions, liquid effluents, solid waste, emergency response, resettlement, and employee and public safety. The sponsor has presented plans to address these issues and to comply with applicable governmental and World Bank requirements. Key actions include measures for air pollution control and wastewater treatment, employee training, and provisions for spill prevention, traffic safety and emergency response. The sponsor is working with the local communities and governmental authorities to ensure that the relocation of about 90 families located in the project’s right-of-way is handled in a fair and equitable manner.
The is March 15, 1996 from the Public Information Center.
| Date SPI sent to PIC | March 12, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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