Press release
Ashmore Colombia completes investment in Concesionaria Ruta Bogotá Norte S.A.S., the 5th Generation toll road concession in Colombia.
7 July 2023
Ashmore Group plc announces an investment in Concesionaria Ruta Bogotá Norte S.A.S. (“CRBN” or the “Company”), via its third private equity fund in Latin America, managed by its subsidiary Ashmore Management Company Colombia (“Ashmore Colombia”). CRBN is the company awarded by the National Infrastructure Agency of Colombia for the construction, improvement, operation, and maintenance of the 18-kilometre toll road concession located in Bogotá D.C. (“Concesión Accesos Norte Fase II” or the “Concession”). The road is one of Colombia’s most significant suburban corridors, since it connects Bogotá with the cities of Chia, Cajica, Zipaquira and Tocancipa, among others.
With an average daily traffic of around 40,000 vehicles1 (the highest recorded traffic in Colombia), Concesión Accesos Norte Fase II was the second PPP toll road concession awarded under the Fifth Generation (5G) Program.2 The Concession plans to improve connectivity between Bogotá and its northern municipalities, where most of the urban expansion has taken place, while reducing travel times and improving safety and technical conditions of an existing corridor.
Ashmore Colombia is pleased to complete this transaction and grow its presence in road infrastructure in Colombia by contributing to the development, construction, and further operation of a 5G toll road concession in the country and a principal corridor for the vehicular flow in Colombia´s capital.
About Ashmore Colombia
Ashmore Colombia is a private equity manager founded in 2009 with offices in Bogotá and Lima, investing across Colombia, Peru and selectively Central America. Ashmore Colombia utilises and benefits from one of the largest teams on-the-ground, which has transacted across the region since the 1980s building an extensive network. Ashmore Colombia is part of Ashmore Group plc, a specialist Emerging Markets investment manager with over thirty years' experience and USD 57.7 billion (March 2023) in assets under management.
1. From the National Infrastructure Agency of Colombia registered observed traffic in existing toll stations in the road.
2. After the successful development of the Fourth Generation (4G) of toll road concessions, under which more than 30 concession agreements were granted for the construction, operation and maintenance of nearly 5,216 kilometres of roads, including the construction of new roads and improvement over existing ones, the government of Colombia, is currently promoting the 5GProgram. Under the 5G Program, which is founded on four pillars of sustainability (environmental, social, institutional and financial), the government intends to promote intermodal transportation and connectivity for the roads developed under the 4G Program, through the execution of a portfolio of 30 projects. Different to the 4G Program, the 5G Program, involves the construction and improvement of toll roads, airports, rail roads, river transport and ports.