The department of Antioquia opened a period for third parties to declare interest in a COP 401bn (USD 117m) road private initiative, according to documents published on 1 October.
The private initiative was originally presented by Estructura Plural Doble Calzada Oriente – DCO, a consortium comprised of local companies Conconcreto, Castro Tcherassi and Procopal.
Other companies have until 2 December to declare interest.
If none come forward, the government will immediately award the project to Estructura Plural Doble Calzada Oriente and sign the contract by 16 December.
The project includes the studies, design, financing, construction, operation and maintenance of a new 13.7km highway located in the southern part of Antioquia, running from the Las Palmas area of Envigado to El Tablazo in Rionegro.
The project does not require public resources and will generate profit through a toll plaza.
According to the country’s PPP law, governments are required to open a period for third parties to express interest in private initiatives that do not require public resources. If a third party expresses interest in the project, Antioquia will open a simplified bidding process. If another bidder comes forward with a more competitive bid, the original consortium will have an opportunity to present a revised offer.