Colombia is investing heavily in infrastructure through public-private partnerships to connect its cities and regions. The National Infrastructure Agency was created to oversee major projects including 30 road concessions worth $15 billion being implemented under a rigorous framework. Rail, airport and port projects are also in progress. Upcoming projects through 2022 include expanding highways, developing new rail lines, and modernizing airports to strengthen Colombia's competitiveness and economic growth.

1. Colombia
is betting on
Infrastructure
Dimitri Zaninovich
President
Agencia Nacional de Infraestructura

2. The Challenge
• Andes mountains
divide in 3 ranges
when getting into the
country.
• Natural barriers has
promoted the creation
of self contained areas.
• More than 27 cities
over 250.000 habitants
spread over the
territory should be
connected.

3. The Answer:
Robust PPP
Framework
development
PPP Law
Infrastructure Act
Infrastructure Law
ANI Creation Standardized contract
Dispute settlement
mechanism
Incentive to invest
in PPP projects
FDN Creation
LEGAL INSTITUTIONAL CONTRACTUAL FINANCIAL
High level of Transparency
Pipeline of well structured projects
Financial Soundness

4. Important
infrastructure Lag
Infrastructure expert
commission (2012)
PPP Law -
1508 de 2012
Infrastructure
Law- 1682 de
2013
Adjustments to land
acquisition,
environmental
licensin, network
management
regulation
Ley 1742 de
2014
• Develop PPP Scheme framework
• Payment for completed, operating work
• Addition to original contract limited to 20%
• Creation of unsolicited proposal mechanism
• Contract rules for transportation PPP (Early termination, Conflict
resolution, liability regime)
• Adjustments to land acquisition and environmental licensing
processes
Legal void in case of
annulment
Ley 1882 de
2018
• Clear rules in case of annulment
• Protection of good faith third party
• Further adjustment to regulation of land acquisition
Adjusted Legal Framework

5. Past experience:
Political influence + short term view
+ weak institution
= Lack of trust
Technical Staff
Teams of experts
from several fields
tailored for each
Project.
Long term
planning
Portfolio of
investment needs
and definition of
projects pipeline
Transparency
Best practices to
generate confidence
in public tenders and
atract bidders
Supervision
Follows construction
and coordinates
interactions with
concesionaires
ANI Creation

6. Concesiones de
Modo Carretero
4 Corredores
Férreos
60 Concesiones
Portuarias
16
Aeropuertos en
6 Contratos de
Concesión
48
ANI 2011 ANI 2018
Concesiones de
Modo Carretero
4 Corredores
Férreos
47 Concesiones
Portuarias
25
End to End
Management:
From Planning,
structuring and
procuring to contract
management and
reversion.
ANI’s scope

7. Transparency
POLICIES &
PROCESSES
RESULTS
• Contract based on international best practices
(Conflict resolution mechanism, addition)
• Transparent awarding process
• Code of conduct, Code of ethics, Relationship
management manual
• Transparency training
• Procurement through SECOP
• ANI, Latin America Grantor of the year 2016
• Latin Finance 2016 2nd best Project awarded to
Pacifico 3 project
• ANI best Contracting entity in 2016 (Colombian
Infrastructure Chamber)
• ANI tendered 28 projects, on average 4 proposals
per tender. (2011-2017)

8. Direct
impact on
Colombia’s
competitive
-ness
World Economic forum Global
Competitiveness Index Infrastructure Pillar

9. 2014
2015
2016
2017
2018
3.50
3.80 5.03
7.01 8.03
Roads Airports Rail ports
+16.2%
+39.4%
Private Investment in Transport
Infraestructure (Trillon COP)

10. COLOMBIA was officially
invited in May 2013 to start the
process to fully join the OECD.
“The OECD Investment policy
reviews Colombia’s achievement
in term of developing an open
and transparent investment
environment, and the country’s
effort to reduce restrictions to
international investment”.
Colombia is implementing a comprehensive action plan to
convert into a full member of the OECD
22 of 23 OECD committees approved Colombia’s process
• Agriculture
• Competition
• Statistics
• Health
• Consumer Policy
• Financial Markets
• Scientific and
Technological Policy
• Regulatory Policy
• Fiscal Affairs
• Educational Policy
• Local economic development
• Digital Economy Policy
• Bribery in International
Business Transaction
• Investment
• Fishery
OECD Accesion

11. Roads

12. Road Concessions
2018
1G, 2G and 3G
4G

13. We created the
4G PROGRAM
Investment of USD $15 bn
30 Awarded projects
26 With first financial closure ANI
14 With financial close
120.000 Direct Job creation
5.000 km of roads to be improved
• More than 1.370 kilometers in double lane highways
• 140 Tunnels totaling 125 kilometers
• 1.300 Viaducts and bridges totaling 146 km

14. Lenders Auditor ANI
Users
Concessionaire
(SPV)
Suppliers
EPC
Designer
Operator …
Shareholder
Shareholder
Shareholder
Shareholder
Equity
Dividends
Procurement
Contracts
Fiduciary
Agreement
Audit
Contract
TRUST
ANI Payments
(VF, DR…)
Toll Revenue
Other Commercial
revenue
Payment to
Auditor
Payment to
Suppliers
Concession Contract
Contractual Structure

15. • Construction (except tunnels)
• Operation and maintenance
• Financing
• Change in construction and operation
& maintenance input prices
• Land acquisition management (with
control and supervision of ANI)
• Insurable Force Majeure events
• Traffic (liquidity risk)
• Macroeconomic risks
• Changes in law
• Construction (large tunnels)
• Land acquisition (cost overruns)
• Environmental and social management (cost
overruns in environmental compensations)
• Utility networks (cost overruns)
• Force Majeure events
• Non insurable events (e.g. natural disasters)
• Land acquisition*
• Social consultation*
• Environmental licensing*
• Traffic (Aggregated Income)
• Utility networks (non identified networks)
Concessionaire’s Risks
Shared Risks
ANI’s Risks
Contractual Risk Allocation

16. 4G
Projects
execution
21
Construction
9
Preconstruction
2%
3%
4%
4%
5%
9%
9%
9%
19%
19%
25%
29%
33%
40%
70%
77%
IP - Vía al Nus
Bucaramanga - Barranca - Yondó
Magdalena II
Pacifico 1
Santana - Mocoa - Neiva
Transversal del Sisga
IP - Neiva Espinal
IP - Antioquia - Bolivar
Conexión Norte
IP - Chirajara - Villavicencio
Perimetral Oriente de Cundinamarca
IP - Girardot - Ibague - Cajamarca
Pacifico 2
Pacifico 3
Girardot - Honda - Puerto Salgar
Cartagena - Barranquilla
Construction Advancement

17. Green light for Project execution
68%
of land available
for construction
96%
of negotiations with community
sucessfully closed
74%
of environmental
licences secured

18. 4G
Program
Financing to date
30 projects
26 Projects
showed financial
capacity to the
ANI
14 Financial
Closes
Local
Banks 44%
International Banks
14%
FDN 11%
Debt Funds
8%
Multilaterals &
Dvlpmnt Banks
5%
Capital Market
17%
International
pension Fund 1%
Debt*
US$6 bn
* 14 projects with financial close
Local
Sponsors
70%
International
Sponsors
23%
PE Funds
7%
Equity **
$4 bn
** Committed Equity of 4G’s 30 projects

19. Global
Sponsors
Participation
Australia
Austria
China
Costa Rica
Ecuador
France
Israel
Portugal
Spain
UK

20. 4G
Economic
and
Social
Impact
Direct and indirect
creation of
810,000 Jobs
5% increase in
long term GDP
growth
Increase in total
productivity factor
from 0.8% to
1.77%
30% average
Time improvement
30% 40%15% 30%20%
TravelTimeReduction

21. Financial Closes Acceleration in 2018
Need in 2018:
US $2.5Bnin 7 projects
1
3
7 8 8 8 8
12
14 16
19
21
Ene Mar Abr-Jun Jul -Sep Oct-Dic Ene Mar Abr-Jun Jul -Sep Oct-Dic Ene Mar Abr-Jun Jul -Sep Oct-Dic
2016 2017 2018

22. Roads:
What’s
Next?
Public Initiatives
• Puerto Salgar (Cundinamarca)-San
Roque (Cesar) - CAPEX $750MM
• Malla Vial del Cauca (Valle de Cauca
CAPEX $930MM
• Transversal Río de Oro-Aguaclara-
Gamarra (Cesar)
• Villeta-Guaduas (Cundinamarca)
Unsolicited Proposals
• Pereira-La Victoria (Valle del Cauca) y
Cerritos-La Virginia (Risaralda)-
CAPEX $85MM
• Accesos Norte de Bogotá 2
CAPEX $500MM
• Autovía Zipaquirá (Cundinamarca)-
Barbosa (Santander)
• Avenida Longitudinal de Occidente
(Bogotá)
Project to be awarded in 2018-2020

23. Project
Highlight:
Puerto
Salgar -
San Roque
Total Lenght
528 km
Consturction Period
4 Years
CAPEX (Est)
$750 MM

24. Project
Highlight:
Malla Vial
Del Cauca
Total Lenght
862,2 km
Construction Period
4 Years
CAPEX (Est)
US$ 930 MM

25. Project
Highlight:
ALO Sur
Total Lenght
24 km
Consturction Period
4 Years
CAPEX (Est)
$200 MM

26. Project Highlight:
Accesos Norte II
Total Lenght
41 km
Consturction Period
4 Years
CAPEX (Est)
$500 MM

27. Rail

28. Of Railway
1.619 km
• Santa Marta (Magdalena)-
Chiriguaná (Cesar)
Over 50 millions tons of Carbon
exported annually.
• Chiriguaná (Cesar)-La
Dorada (Caldas) y Bogotá-
Belencito (Boyacá)
Rehabilitated through 2 civil
work contracts. Execution of 9
successful test runs..
• Pacific Region
Successful conciliation with
Tren de Occidente to invest
US$300M on the railway
network of the pacific region
1.121 km
Operating
Corridors
Rail
Concessions
2018

29. Rail:
What’s
Next?
Project to be awarded in 2018-2020
• RegioTram de Occidente -
CAPEX $700MM
• La Dorada – Chiriguana -
CAPEX $195MM
• Railway Pacific Connection -
CAPEX $200MM

30. Project
Highlight:
Regiotram
Lenght
44,7 km
Stations
18
CAPEX (Est)
US$ 700 MM
US$ 500MM Infrastructure
US$ 200MM Rolling Stock
Passengers
2022: 125.7k / Day

31. Project
Highlight:
Cargo
Raiways
Lenght: 498 km
CAPEX (Est): US$ 200 MM
Lenght: 522 km
Pacific Connection
La Dorada - Chiriguana
CAPEX (Est): US$ 195 MM
Capacity
2046: 7.4 MTPA

32. Airports

33. Aeropuerto Internacional
El Dorado – Bogotá
Aeropuertos
modernizados
16
Airport Concessions
2018

34. Project to be awarded in 2018-2020
Public Initiatives
• El Dorado II – CAPEX $1,200MM
Unsolicited Proposals
• Cartagena Airport Extension
• New Cartagena Airport
• San Andres and Providencia Airports
South West Airports
(Cali, Buenaventura, Armenia, Ibague,
Neiva)
Airports:
What’s
Next?

35. Project
Highlight:
El Dorado II
Runway: 3.800 m
Platforms: 33
Terminal:
40.000 m2
CAPEX (Est):
US$ 1,200 MM

36. Project
Highlight:
Cartagena
Expansion &
New Airport
Expansion 2018
CAPEX (Est):
US$ 147 MM
Terminal: 45.000 m2
CAPEX (Est):
US$ 700 MM
New Airport

37. Project
Highlight:
San Andres &
Providencia
Expansion 2018
2 Runways:
2.375 m – 1.290 m
Terminal: 13.500 m2
CAPEX (Est):
US$ 89 MM

38. Project
Highlight:
South West
Airports
5 Airports
Cali - Buenaventura
Neiva – Ibagué -
Armenia
Scope
Expansion and Rehabilitation
CAPEX (Est)
US$ 260 MM

39. Ports

40. Aeropuerto Internacional
El Dorado – Bogotá
Concessions
60
Port Areas
8
Terminales especializados en contenedores, graneles,
hidrocarburos, GLP.
Puerto Aguadulce, Buenaventura
200 MM
Cargo tons /Y
Port Concessions 2018

41. Project
Highlight:
Antioquia
Port
Capacity:
600,000 TEU/Y
Viaduct: 4.2 km
CAPEX (Est):
US$ 250 MM
Berth Position: 5
Deck Size: 570x91 m

42. ¡Thank You!