CHEC Wins 2019 Project Investor Award by LATINFINANCE
source: Author: Date: 2020-10-09 Font size: [large medium small]

As a result of this outstanding performance in Mar2 Project, as the investor consortium of leading major shareholders of the project, CHEC won “2019 Project Investor” Award by LatinFinance, a leading financing review organization in the world. Again, at the 5th Latin America Project & Infrastructure Finance Summit hosted by LatinFinance on September 30, 2020, after winning the “2019 Latin America New Investor” Award by Proximo Infra, a famous financing review organization in the American region, on May 27, 2020. Rong Guimin, shareholder representative of Mar2 Highway PPP project in Colombia, was invited to participate in the PPP panel discussion.

Mar2 project is the second largest PPP project in Colombia's "4G" road network project group, and the consortium led by CHEC was awarded the project through international public tendering in 2015. At the beginning of the project, the company held 30% of the shares and was a single major shareholder. Through four rounds of capital increase, CHEC has continuously ameliorated its dominant position as a shareholder and now holds 65% of the shares. The project was ranked as the first Chinese-funded infrastructure PPP project in Latin America by the National Development and Reform Commission, the first Chinese PPP project in the American region by the Ministry of Finance, and the first overseas PPP project by the Group. CHEC successfully overcame the major challenges brought by the China-US trade war , the compliance issues of multilateral cooperative banks, the list of entities sanctioned by the United States and other issues, and achieved a non-recourse project financing closure in July 2019 in an international competitive approach.

The project is currently working hard to overcome the impact of COVID-19 and promote the construction process. The construction will be completed in January 2022, as planned.

Mar2 project is a top-talk project between two countries. Based on its outstanding performance in Mar2 project investment, corporate governance, project financing and construction, CHEC has successfully established a well-known industry investor status in the field of Latin American infrastructure, provided a valuable business model for CHEC’s industry investment cause, and further accumulated rich resources and experience in Latin American market for CHEC.