Troncal del Magdalena I (IDBI-14522-01)

Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Puerto Salgar (Cundinamarca), Curumaní (Barrancabermeja), Boyacà, and others
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
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 5, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Ortiz Construcciones y Proyectos SA, KMA Construcciones SAS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Infrastructure
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 62.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jun 30, 2023

Disclosed by Bank Jun 16, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IDB Invest, the Troncal del Magdalena I is the third project of the fifth generation concession program led by the Government of Colombia through its National Infrastructure Agency. The Project was awarded to the company Estructura Plural Autovía Magdalena Medio, formed by KMA Construcciones S.A. (50%) and Ortiz Construcciones y Proyectos S.A. (50%).
The Project considers the financing, construction, improvement, rehabilitation, and maintenance of the Puerto Salgar–Barrancabermeja corridor, which is 260 km long and joins the towns of Puerto Salgar, located in the Department of Cundinamarca, with Curumaní, Barrancabermeja, located in the Department of Santander, extending through the Department of Boyacá.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Bloomberg, Grupo Ortiz (Ortiz Construcciones y Proyectos, SA) provides construction services. The Company provides engineering, construction, and real estate development and management services in various sectors, including civil works, rail, commercial and industrial construction, environmental, and others.

KMA Construcciones SAS operates as an infrastructure services company. The Company provides development and construction of bridges, tunnels, roads, dams, buildings, warehouses, production plants, logistics, industrial parks, and real estate projects. KMA Construcciones seves customers in Colombia.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - KMA Construcciones SAS Client Construction
- - - - Ortiz Construcciones y Proyectos, S.A. Client Construction

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

IDB Invest Team Leaders:

Lara Manzano
Ricardo Julian

No contacts available at the time of disclosure.

Troncal del Magdalena Medio SAS:

Luis Eduardo Gutierrez Diaz - General Manager
Phone: +57 3182887652
Email: l_gutierrez@autopistamagdalenamedio.com.co
Website: https://autopistamagdalenamedio.com.co/

Clients -

Ortiz Construcciones y Proyectos SA:

Spain Headquarters:
Address: Av del Ensanche de Vallecas, 44 - 28051 Madrid
Email: rinstitucionales@grupoortiz.com
Phone: +34 913431600
Website: https://www.grupoortiz.com/

Colombia Office:
Address: Calle 113 #7 - 21 edificio Teleport Business Park, oficina 1213; Bogotá, COLOMBIA
Phone: +57 (1) 2146253
 
KMA Construcciones SAS:
 
Address: Barrio El Cabrero, Carrera 2A # 41 - 612, Cartagena - Bolívar
Phone: +57 (605) 6939255
Website: https://kma.com.co/
 
IDB Invest:

Email: requestinformation@idbinvest.org
Phone: +1(202)-566-4566
Address: 1350 New York Ave NW, Washington, DC 20005

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

How it works

How it works