Interconexion Electrica S.A. E.S.P.

ISA SUBMITTED AUTOPISTAS DE LA MONTAÑA STUDIES TO INCO

Sep 06, 2011

OTC Disclosure News Service

Medellin, Colombia –

 

ISA SUBMITTED AUTOPISTAS DE LA MONTAÑA STUDIES TO INCO 

ISA submitted to the National Institute of Concessions (Instituto Nacional de Concesiones -INCO-) a full report on the scope of studies of the Autopistas de la Montaña Project, which studies were delivered to the Institute last August 10th, following the commitments undertaken under the inter-administrative contract signed by both entities in January 2010.

In a detailed presentation, attended by the Deputy Minister of Transport, INCO’s Director, the Governor of Antioquia, representatives of National Planning Department -INVIAS-, the Government of Antioquia and the Municipality of Medellín, ISA and its consultants showed the results of the technical and financial structuring studies that illustrate a broad and thorough analysis on various topics and allow understanding and properly becoming aware of the project’s dimension. The presentation addressed a configuration of the road system under study, in response to the country’s current competitiveness needs, geographical and geological complexity of the project area and the dynamics of current and future transportation.

The designs and structuring contained in the studies were conducted in an integral and modular basis, so that the project configuration recommended could be developed gradually to complete its final phase.

From this perspective, the studies provide a large-scale solution and consider a total investment that could amount to COP 15.56 trillion (pesos as of December 2008) for the development of the project in its full extent, which would include the Troncal a Urabá (section 1) on single carriageway, the North-South corridor (sections 2 and 4) on dual carriageway and the road to Puerto Berrio (section 3) on a new single carriageway that would operate as a road pair with the existing route.

It is important noting that the preliminary COP 12 trillion approximate figure (pesos as of December 2008) known a few days ago, corresponds to one of the stages of the project development, in which the scope of works is less than such described above.

According to the recommendations raised by ISA, from now on decisions should be made to enable the implementation of a development plan for the road system in the medium and long term, which successive interventions should consider available resources to implement an outreach project.

The project design covers four competitiveness corridors, including three integrating the country from the South on the border with Ecuador to the Caribbean Sea in Cartagena and Golfo de Urabá, and the last will cross connect the Troncal Occidental and the Troncal del Magdalena (Ruta del Sol). The total length is 760 km in design, and includes 15 tunnels over a kilometer long totaling about 52 km, 116 tunnels below a kilometer long (37 km) and 703 bridges that would have a length of about 64 km.

The works are based on the INVIAS 2008 Geometric Design and encompass an 80 km/h design speed, a 6% maximum slope and 10.5 m. average width of the roadway.

The study bearing a cost around COP 37 billion was developed by a qualified group of consultants, supported by the latest technology.

ISA incorporated an analysis model for the selection of routes for the project that examined various route options from the technical, financial and economic standpoint; the latter aimed at choosing the most profitable social alternative, expressed in lower travel time and less operating costs for cargo carriers.

Since the traffic running through these corridors is not very high compared to international averages, the internal generation of the project’s resources from toll collection is not enough to meet the high investments demanded by the project, for which state resources and a long-term development plan will be required.

The proposals, both for corridors and new road standards provide effective solutions to competitiveness. This entails works with high standards compared to the characteristics of the country’s existing roads, taking into account the particular geographical location (mountain) and the geological and geotechnical conditions of the project, requiring major changes in the usual way of conceiving this infrastructure.

Over the next months the interventory firm hired by the INCO will analyze the studies submitted by ISA. Subsequently the National and Local government will determine the basic scope of the project, the work plan, the investment and the state resources available to tackle it. Meanwhile ISA, in coordination with the INCO, will make a comprehensive socialization plan to different audiences in which they will announce the scope of these studies.

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/IESFY/news?id=35235

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