The controversy that has generated the decision to freeze the tariffs of the tolls in 2023 generated the concern from concessionaires and investors due to the financial risk it represents for the projects.
For this reason, the Colombian Chamber of Infrastructure (ICC) expressed his reservations about the impact that the measure could have.
(See: With toll freezing, citizens would pay for roads they don’t use: CCI).
The union assured that decree 050 of 2023which establishes not to increase the toll rates charged by Invías and the ANInot only correspond to a “untimely change in the rules of the game in a long-term business”but also “causes an economic imbalance of contracts”this, according to the CCI, because the actual rates each year will be lower than those forecast.
(See: “Tolls must be paid according to the state of the road,” says Colfecar).
The Chamber of Infrastructure He highlighted that the payment of tolls is the financial backbone of these concessioned projects, since they are supported in this collection as payment for the investments made, and that given the freezing of the ratesand that the State must compensate all projects through the Contingency Fund.
According to an estimate, the concessions would stop receiving around $1 billion during 2023 due to the change in the rates that was defined from the Government.
(See: The concessions that will continue with an increase in the rates of their tolls).
Besides, the ICC evidenced that this decision will also have repercussions in the future, since the real rates of every year will then be less than those provided for in the structuring of the Projects.
The president of the ICCJuan Martín Caicedo, referred during the press conference organized by the union that in Private Initiatives (IP) there is also a risk that the dealers must anticipate the delivery of concessions to the Government due to financial imbalance that will result from this situation.
(See: Concessions that raised toll prices must lower them).
It is worth remembering that the IPs are financed exclusively with the collection of tolls and do not receive other types of resources, such as future validity of the Government and said collection constitutes the source of payment of investments made in infrastructure.
“In this case, the State would have to recognize, additionally, the investments made and, in addition, it would have to finish the works and manage, operate and maintain the roads,” said caicedo.
Another point that the union leader touched on is that it will not only be the Government, but also the Colombians‘even those who do not use the concession highways’ who will end answeringvia taxesfor the money that the projects stop collecting.
Additionally, there was talk of the impact on legal certainty and therefore on uncertainty for investors and funders. The ICC called for preserving the confidence ‘in favor of the development and modernization of the national infrastructure’.
figures of unions highlight that in the last 27 years More than 10,000 km of roads have been intervened in the country through the concession model, in addition to 1,111 bridges and viaducts and 80 tunnels.
The first generation of concessions (1G) was developed between 1993 and 1997, and included the signing of 11 contracts for the rehabilitation and expansion of 1,649 km.
With the second generation (2G), 470 km were intervened through two contracts, while the third generation of concessions (3G) It included 12 concession contracts to intervene 3,557 km of highways.
The 4G program, which is currently still in progress, entailed the signing of 30 contracts and the intervention of 5,000 km of roads, and also, the ICC highlights the 15 Projects first wave of 5G, essential for development in the medium term.
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