StockMarketWire.com - Infrastructure investor John Laing Group said it had agreed to acquire the Ruta del Cacao road project in Colombia for around £62m, marking its first investment in Latin America.

The project involved the development of 236 kilomtres of road, providing a connection between the cities of Bucaramanga, Barrancabermeja and Yondo in the country's northeast.

The acquisition was expected to complete over the coming weeks, subject to customary consents.

Partners in the project currently included Cintra/Ferrovial, Colpatria and Ashmore.

John Laing said it had a 25-year term, with an option to extend for a further four.

The project required design, build, finance, operation and maintenance, including the construction of new roads, tunnels, viaducts, bridges and toll stations, as well as upgrading existing road tranches.

The construction phase was expected to be completed by 2021.


At 1:16pm: [LON:JLG] John Laing Group Plc share price was +0.2p at 385.4p



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