TRANSAMBIENTAL S.A.S.
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Transambiental is one of the three bus operator concessionaires of Cartagena’s new Integrated Mass Transport System , named Transcaribe. Transambiental is responsible for the execution of Concession number 3, whose purpose is to finance, acquire, operate and maintain up to 223 state-of-the-art natural gas powered buses. The new system, expected to transport 450,000 passengers daily, is based on a Public Private Partnership model, in which the public sector funds the immovable infrastructure (e.g. bus lanes, stations, depot and maintenance center) and the private sector is responsible for bus operations, fare collection and scrapping of the old existing bus fleet.
What is our funding objective?
As part of a debt package of Colombian Peso 145 billion (approximately USD 48 million), FMO commits to provide a loan of USD 15 million. The funding will mainly be used to acquire new buses and to acquire and scrap old diesel buses currently operating in the public transport system.
Why do we fund this investment?
This is a Green and Inclusive project. The introduction of Transcaribe will help Cartagena to move from an old, polluting, uncomfortable and inefficient bus system, with 1,600 old diesel buses, towards a cleaner, more reliable and efficient public transportation system, with 660 state-of-the-art natural gas powered buses. Transcaribe will offer affordable transport to the middle class and poor, that rely the most on the public transport system.
- Region
- Latin America & The Caribbean
- Country
- Colombia
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 5/31/2016
- Total FMO financing
- USD 15.00 MLN
- Funding
- Building Prospects
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+