Construction work is underway in Colombia at present on the Pacifico 1 corridor. The project is being handled by Concesionaria Vial del Pacifico (Covipacifico), which has the concession for the route. Building the new highway stretch is costing in excess of US$685 million.
So far, 5.2km of the route has been built. When complete the project will add 32.2km of new highway, while maintenance work is also being carried out on 18km of existing roads. The project is complex as it includes the construction of one tunnel stretch as well as two viaducts, two bridges and a major interchange.
A substantial tranche of the funding for the project is being supplied in the shape of a loan worth $148 million from the international institutions Sumitomo Mitsui Banking Corporation and Santander. The Pacifico 1 road project forms part of Colombia’s fourth generation (4G) programme, is around 70% complete at present and is expected to be ready for traffic in the third quarter of 2023.