Bog Transmicable (IFC-39772)

Countries
  • Colombia
Where the impacts of the investment may be experienced.
Specific Location
Bogota
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
BOGOTA DISTRITO CAPITAL
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS May 9, 2019

Disclosed by Bank Apr 15, 2019


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Project Description

IFC's proposed investment is a US$ 30 million loan to Bogota Distrito Capital (the “client” or the “City”) to finance “Transmicable” (“project” or “TMP”), an aerial cableway connecting the low-income mountain neighborhood of Ciudad Bolívar to the City mass-transit system. The project is expected to benefit approximately 80,000 habitants of Ciudad Bolívar by significantly reducing their travel time to the Transmilenio El Tunal station.
The project has a cost of US$ 70 million, partially financed by the Colombian Financiera del Desarrollo Territorial S.A or Findeter.
The cableway system will have a maximum capacity of approximately 3,500 passengers per hour (one way) and 60,000 passengers per day. There will be 160 cabins which will each seat maximum ten passengers.
The Transmicable cableway will be 3.25 km long, with a height difference of 262 meters and will have three new stations (Juan Pablo II, Manitas and Mirador del Paraiso), which will be around 3000 m2 each) in addition to El Tunal (the terminal station), and 24 towers along the way. The project will be integrated with the main Bogota mass transit system (managed by Transmilenio, 100 % city owned enterprise) at Portal El Tunal Station through an underground passage.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

In 2013, a third-party engineering and environmental consortium, Consorcio Aqua-Terra-Incoplan, was hired to conduct a feasibility study of the project. The Urban Development Institute (“IDU”, a governmental organization which is responsible for infrastructure projects for Bogota) has since been responsible for the project’s design and construction. To supervise the project’s implementation and progress, IDU hired a third-party consultancy company (Interventoría), which is in charge of the control of the design and monitoring of the contractors, including environmental, social, occupational health and safety requirements.
The construction contract was awarded to a special purpose vehicle (“SPV”), formed by Doppelmayr Colombia SAS, Constructora Colpatria S. A. and Icein Ingenieros Constructores SAS (all together as “project contractors” or “consortium”). The construction works started in September 2016. At the time of the initial field appraisal (February 2017), 60 percent of the civil works had been executed. As of October 2018, 100 percent of the civil works were concluded and IDU was conducting the operational tests with the cableway, including the operation of the cabins, pulleys, tweezers, cables, and load test. The operation activities are planned to start in December 2018. Transmilenio (“TM”) will receive the project from IDU at the end of construction and will be responsible for the operations of the cableway system. A contractor to conduct operations (namely Cable Móvil, the operator) for five years has been selected.

Contact Information

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/