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Southwest – Cali (Alfonso Bonilla Aragón) and Neiva (Benito Salas) Airports

Expansion and modernisation of Alfonso Bonilla Aragón Airport (Cali) and Benito Salas Airport (Neiva).

Summary


Objective

Modernize southwestern airports and create a sub-account for Buenaventura.

Key Goals

  • Expansion of terminals and aprons.

Market Opportunity

Projected traffic Cali: 16.3 million passengers.

ESG Considerations

Environmental: N/A

Social: Economic reactivation in remote areas.

Governance: N/A

Financial Indicators


CAPEX

COP 1.428 Trillion

OPEX

COP 2.842 Trillion

Total Investment

COP 4.270 Trillion

Zona Franca onshore (12,2 ha)

USD 20 millones
100 % equity

Equity comprometido

USD 394 millones

TIR neta

26,2 % a 12 años · 16,1 % a 20 años
(sin salida-venta)

MOIC (múltiplo de inversión)

8,9x a 12 años · 5,7x a 20 años

Payback

12 años

Financiación de expansiones

Deuda corporativa y flujo de caja, sin diluir al accionista

Fuentes de ingresos por unidad de negocio

Unidad Base tarifaria Volumen
Carga contenerizada Tarifa por TEU (gateway y transbordo) 1,6 M TEU (2031) a 4,0 M TEU (2051)
Carga líquida y gas Tarifa por m³ o tonelada manejada 60.000 m³ GNL · 40.000 t GLP · 160.000 t aceites y refinados
Venta de energía Tarifa por MWh inyectado al STN 200 MW de autogeneración
Bunkering y refinación Tarifa por barril o tonelada suministrada GNL, metanol, IFO y MDO a buques
Zona Franca Canon por m² y servicios logísticos 12,2 ha de parque industrial y bodegas

Project Timeline


Concession

Duration: 30 years

Concesión y cierre de la estructura de capital

Duración: 2 años.

Cierre financiero

Construcción onshore y plataforma offshore inicial (Zona Franca y líquidos)

Duración: 2 años.

Operación comercial parcial

Construcción de la terminal de contenedores

Duración: 2 años.

Operación comercial completa
\*Predecesor: estructuración legal primaria.

Business Model


Model Type

  • PPP (Public-Private Partnership)

Originators

  • AENA and Corficolombiana

Fuentes de ingresos

  • Tarifas por movimiento de contenedores.
  • Arriendo de capacidad criogénica de tanques (GNL).
  • Despachos de refinación de palma e hidrocarburos.
  • Alquileres en la Zona Franca.
  • Facturación por suministro directo de bunkering.

Socios clave

  • Inversionistas institucionales
  • Estado colombiano
  • Cuatro consejos comunitarios de la zona, que forman parte de la coalición

Segmentos de cliente

  • Grandes exportadores e importadores
  • Cadenas logísticas globales
  • Empresas de manufactura

Canales

  • Conexión terrestre por las autopistas 4G (Mar 1, Mar 2 y Túnel del Toyo), que llegan directamente al puerto.
  • Rutas navieras del mar Caribe, a unas 250 millas del Canal de Panamá.

Alcance

  • Incluye: central termoeléctrica propia de 200 MW, concesión marítima (327,37 ha) y terrestre (8,21 ha), franja privada adicional (12,2 ha), viaducto marino (2,13 km), tuberías de fluidos, jetty para buques gaseros, muelle principal, patio industrial y Zona Franca adjunta.
  • No incluye: las inyecciones de capital para las expansiones de la terminal de contenedores previstas en 2037, 2042 y 2051, que se financiarán con deuda corporativa y flujo de caja del proyecto.

Risk Plan


Event Probability Impact Rating
Simultaneous operation with expansion works N/A N/A N/A
COP 4.270 billion

STATE: In progress
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In progress COP 4.270 billion