Road transport

Transambiental S.A. or the "Company" is one of the three bus operator concessionaires for the new integrated mass public transport system (SITM) of the city of Cartagena, Transcaribe. Transcaribe SITM and Transambiental are expected to start operations in the last quarter of 2015, and will improve the quality of public service for more than 1 million people. Transambiental is a greenfield project that will involve the provision and operation of a fleet of 212 buses under predetermined quality standards. In addition, Transambiental will also be responsible of funding the trust ("FUDO") that will be in charge of acquiring and scrapping the existing bus fleet of the city. Transambiental was awarded a concession contract of December 1st 2014. The term of the contract will depend on whichever of two events occur first: i) Expected Operation Revenues of US$369 million (COP$865,700mm) as proposed in the bid, or, ii) 19.5 years after the start of the operation.

Colombia