John Laing buys 21% stake in Colombia road project for $43 mn

Infrastructure group John Laing said it had bought a 21.15% interest in Colombia’s Pacifico 2 road public-private partnership (PPP) from Construcciones El Condor for $43.4 million. The transaction is expected to complete during early 2021. Colombian construction firm Odinsa will hold the remaining 78.85%. Located 20 kilometres south of Medellin, the country’s second largest city, Pacifico 2 has an operating concession that runs to 2043. It includes the construction of a new 82 kilometre dual carriageway and two tunnels, as well an upgrade of 54 kilometres of existing road.

Source: Sharecast