Colombia Gets Two Bids for First Road in $24 Billion Plan
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The first concession in Colombia’s $24 billion plan to revamp its highways drew offers from two out of ten potential builders, as the government failed to entice the other bidders by offering sweetened terms.
The road, a 133-mile highway between Puerto Salgar and Girardot in central Colombia, drew proposals from groups led by local builder Mario Alberto Huertas Cotes and a unit of Empresas ICA SAB, Mexico’s largest construction company. None of the eight other eligible bidders, which included Grupo Odinsa SA and Andrade Gutierrez SA made offers even after the government agreed to boost the amount it will pay builders and the fraction it pays in dollars instead of the local currency.