Pushing Beyond El Dorado
Odinsa, Colombia's only publicly traded concessions operating firm, is looking to capitalize on a major government infrastructure push.
Odinsa seeks to blaze trails in Colombia. As the country's
largest and most prominent concessions operator, it invariably
has a strong hand to play each time an auction for a toll road
comes up. Across Bogotá, into the countryside and
towards the coastline, Odinsa-operated highways carry a growing
amount of cargo and passengers that increases with every added
basis point of GDP. The expansion continues, with a major
auction for the Ruta del Sol highway on the horizon.
Odinsa formed 15 years ago by a collection of
engineering companies with different specializations has
also done its share of bushwhacking in the local capital
markets. To date, it is the only company in the sector that has
transferred construction risk to local investors via a bond
issue, according to Glaucia Calp, head of Duff and Phelps, the
Colombian arm of Fitch Ratings.
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