Bogota Metro: Phase 2 Underway, Contract Tenders Planned For 2016
The Colombian National Development Financier (FDN) has announced that the second phase of the $13.5 billion project, 9.5 billion of which will be state funded, will be complete towards the end of 2016, at which point tenders will be open on the capital’s transport mega-project.
The FDN, which is also responsible for financing the countries 4G road projects, have confirmed that they have agreed terms with the Ministry of Finance and Credit, to provide the funds for the second stage of the project.
The Institute for Urban Development (IDU) have also confirmed that their contribution towards the project is in place.
Clemente del Valle, president of the National Development Financier (FDN), explained that the second phase will include the preparation of bidding documents, which will outline rates, operating income and works contracts for the project.
Whilst working on the second phase of the project, the government will also work to complete the CONPES document which will provide strategic guidance during project implementation. Following this, the final stage will be a signed financing agreement between the local and national government.
One of the responsibilities the FDN has in the process is to select companies to provide support with the development of areas related to the project, including legal and financial partners, such as private investment banks.
The FDN has created a shortlist of companies, with preference given to those with experience in similar projects and especially a proven track record in Bogota.
Once companies are chosen to support the development of the project, they will be fully briefed on the studies that were completed as part of the first stage of the project. Then, all parties will finalize cost details and establish a more precise deadline for the completion of line 1 of the project.
“As soon as the comments are received from the parties, the specifications will be published and the tender will be open”, the FDN confirmed this week.
The project continues to progress, although this months election in the Colombian capital could force some changes to current proposals. A number of leading mayoral candidates, including former mayor Enrique Peñalosa, have publicly stated their intention to switch the current underground route for a cheaper overground alternative if elected.
According to the latest studies by the Universidad de los Andes and Universidad Nacional, the 27 station line 1 project will generate 11.8 square meters of additional growth areas as a result of the new metro.