Hydroelectric project on the Sogamoso River
In December 2009, Impregilo won the competitive bidding to build the hydroelectric project on the Sogamoso River in northwestern Colombia, about 40 km from the city of Bucaramanga.
The project involves the construction of a dam measuring 190 m high and 300 m long, and an underground power plant which will house three turbines totaling 820 MW of installed power. The Customer is ISAGEN SA, a mixed public/private capital concessionary active in Colombia for the production of electric energy. The value of the project is currently about € 590 million.
The plant, in function since October 2014, was inaugurated on January 16, 2015.
The percentage of work completion as of June 30, 2015, was 99.2%.
“Ruta del Sol” Highway Project
At the end of July 2010, the Impregilo Group won the competitive bidding to manage the concession of the third highway lot of the “Ruta del Sol” project in Colombia. The concession, awarded to a grouping of companies led by Impregilo and consisting of the Colombian companies Infracon, Grodco, and Tecnica Vial, and the private investment fund RDS (owned by Bancolombia and the Protección Pension Fund), calls for the adaptation, widening to four lanes, and management of two highway stretches between the cities of San Roque and Ye de Cienaga, and between the cities of Carmen de Bolivar and Valledupar. The overall amount of the investment is about $1.3 billion. The concession contract provides for a total revenue of about $3.7 billion (40% for Impregilo’s share), including income from tolls and a public contribution of $1.7 billion, which will be paid out starting with the construction phase. The concession will run for 25 years, including 6 years for the infrastructure design and adaptation phase and 19 years for the management phase.
In April 2015, due to the work delays caused by the absence of the environmental permits for 50% of the project (240 km), an addendum was signed with the customer. This addendum will extend the contractual timings for work completion to May, 31 2019, and does not modify the total concession period.
The percentage of work completion as of June 30, 2015, was 26%.