‘Uncertainty with tolls harms access to credit’

Autopista de Río Grande, concession in charge of the Troncal de Magdalena 2the second section of the old Ruta al Sol 2is winning the hearts of the residents where the corridor passes to advance in the work, because with a change of concession they have faced great social challenges.

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In economic matters, Andrea Medina, concession managerassured that the non-increase in tolls is harming the concession that is seeking financial closure, but since it does not have a solid economic model, it has become a barrier.

How is the contract set up?
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We are in charge of the studies, designs, property and social management, financing, construction and operation of the corridor that goes from Barrancabermeja to San Roque. There are 272 kilometers that cross three departments. The construction stage began on December 1, 2022, designing, maintaining the existing road, managing it, and taking care of the financing.

How is the maintenance going?
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We made priority interventions taking into account the conditions of the road as it was delivered to us. There were a large number of holes along the entire length of the track and poor signage.

This is how we cover the holes, improve signage and painting, rubbing and other activities that guarantee the safety of users. This made it possible to reduce travel time by 45 minutes.

How long will the construction stage take?
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It’s 47 months. Here we must make the second carriageway that is needed, the construction of the variants and the improvement of the existing road.

Will it be in good condition for the holiday season?
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We received the track with regrettable wear. But we changed the face of the road, we have attended 80% of the road, the signaling and there is a total change.

How many tolls will it have?
There are three existing and operating. The good thing about this project is that we don’t have to put new tolls.

What are the additional benefits?
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We have 43 vehicular bridges and 40 new vehicular bridges and the services that the concessions have.

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Andrea Medina, manager of Autopista Río Magdalena SAS

Courtesy

When will they start construction?
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The times are estimates, but we must meet all the requirements to achieve it. By relying on some of these third-party processes, it will take some time. One of the most complicated challenges is obtaining the financial guarantee, which we hope to have for the month of December, that is, we hope to have everything starting for that month.

How’s the financial close going?
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The rates are hitting the projects, but not only that, the uncertainty that the different concessions have with the non-increase in tolls. By not raising the tolls and since it is not clear how the rate is going to be updated, it has not been possible to have the cash flows approved.

At this time we do not have a financial model, which means that the banks are not certain of what we can contribute with the resources that are already established in the project. There we have had a little delay.

What has the government told you?
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Through the ICC we are pressing ANI to say definitively how it is going to set these rates. What the ANI has answered us is that it is going to give priority to contracts that are IP and about 20 days they would give us the methodology for those of us who are APPs to know how they are going to catch up with the differential and have a financial model to give banks security.

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How do you hope to optimize costs with the rise we had in inputs?
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We are in the studies and designs stage, that is why we are reviewing in this phase how we achieved it and see which are the materials that have uploaded the most. Additionally, we are making alliances with suppliers and reviewing alternatives with other concessions, also through the CCI, to guarantee that the projects are fully executed within the budgets established at the time they were offered.

What other challenges have you had?
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Because this work was started by another company, which had different guidelines, and we arrived with different policies, we have a community that had a way of working and our challenge is to teach them how to connect with us.

In addition, the arrival of the dealership has been complicated and we have suffered the theft of three vehicles from the dealership and a couple of kidnappings, which makes it impossible for us to work at night.

If it is resolved, will work begin on December 1?
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If everything is fulfilled, yes. With the complete project, this work will help reduce the journey by 1 hour and 20 minutes.

(See: Vía al Llano: alternative routes before the temporary closure due to a landslide).

PAULA ANDREA GALEANO BALAGUERA
Journalist Portfolio