The Government of Colombia has posted the draft specification for the Magdalena River P3, one of the continent’s most ambitious projects to date.
Private partners will be sought to deliver the navigability of over 660km of river, bolstering trade and travel on Colombia’s main artery, including construction, dredging and hydraulic technology installation.
The project update was announced at the COP26 conference in the UK by President Iván Duque, who said: “It is with facts that we are recovering the navigability of the Magdalena River and making Colombia a resilient country with respect to Climate Change.”
According to estimates, the project will reduce the carbon emissions of trade through the region by as much as 62% per tonne.
Jointly structured by ANI and Cormagdalena, the project is being supported by the Ministry of Transport, with advice from the Inter-American Development Bank, Durán & Osorio, EY, ERM and Royal HaskoningDHV.
The concession will have an estimated 15 years duration, with a 4.5 year construction period.
“With facts we continue to show that we are transforming the concessioned transport infrastructure in the country,” said Angela María Orozco, Minister of Transport. “With this river project, we are taking an important step for Colombia to advance in the goal of becoming a leader in the development of sustainable infrastructure.”
In September the authority opened up for industry feedback on the project, which closed at the end of the month. These draft specifications will be published until the end of November. According to the indicative timeline the bidding process will begin in Q1 2022.