John Laing Group plc Investment Update (6263J)
20 Agosto 2019 - 12:00PM
UK Regulatory
TIDMJLG
RNS Number : 6263J
John Laing Group plc
20 August 2019
20 August 2019
John Laing makes first investment in Latin America with road
project in Colombia
John Laing Group ('John Laing'), the international active
investor and partner behind responsible infrastructure and
renewable energy projects, announces that it has entered into an
agreement for its first investment in Latin America.
John Laing has agreed to acquire 30% of the Ruta del Cacao road
project in Colombia for approximately GBP62 million. Partners in
the project are Cintra/Ferrovial, Colpatria and Ashmore. The
project involves the development of 236km of road, providing a
valuable connection between the cities of Bucaramanga,
Barrancabermeja and Yondó in the Santander Department of
North-Eastern Colombia. The acquisition is expected to complete
over the coming weeks, subject to customary consents.
Over its 25-year term, with an option to extend for a further
four, this project requires design, build, finance, operation and
maintenance, including the construction of new roads, tunnels,
viaducts, bridges and toll stations, as well as upgrading existing
road tranches. The construction phase is expected to be completed
by 2021.
Ruta del Cacao is part of the Colombian government's Fourth
Generation road building programme to create a national road
network through Public Private Partnership (PPP).
In addition we recently acquired a 75% interest in a wind farm
in the US for approximately GBP75 million.
Olivier Brousse, John Laing's Chief Executive Officer, said:
"This is an important development for John Laing with Ruta del
Cacao representing our first investment in Latin America, a region
with a strong pipeline of new opportunities. With our extensive
experience delivering infrastructure projects, we believe we can
help the Colombian government fulfil its ambitious road plan and
deliver attractive, risk-adjusted returns for our investors.
We are delighted to be involved alongside Cintra/Ferrovial,
longstanding partners of ours, and Colpatria and Ashmore, all of
which have many years of relevant experience in infrastructure in
Colombia.
Users of this road will benefit from travel time reductions and
significant road safety improvements. We expect the project will
have a positive impact on the Santander region and the local
communities it serves.
Looking ahead, we continue to assess investment opportunities
elsewhere in Colombia and in other Latin American countries, such
as Chile."
Alex Yew, Managing Director for Latin America, said:
"After two years of assessing the Colombian market, we are
pleased to be investing in Ruta del Cacao alongside leading
international and local partners. We hope this initial
collaboration will serve as a strong foundation for us to work on
future opportunities.
We look forward to being actively involved in the project, and
bringing our experience in financing, project management and road
infrastructure delivery. We will also be able to draw on the local
experience of our in-house team of infrastructure professionals
based in Bogota."
ENDS
Further information:
Analyst / investor enquiries:
Luciana Germinario, Chief Financial Officer +44 (0) 20 7901 3200
Tejal Patel, Investor Relations & Finance Manager +44 (0) 20 7901 3200
Media Enquiries:
Camilla Cunningham / Matt Denham, Teneo +44 (0) 20 7420 3186
JohnLaing@teneo.com
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END
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