Projects in Colombia

Arrieta Mantilla & Asociados

Infrastructure and public law boutique Arrieta Mantilla & Asociados is a top notch for the structuring and negotiation of public and PPP infrastructure projects. With a longstanding client roster of concessionaires of toll road concessions and 4G road projects, also advices key players in the airport infrastructure sector such as Aerocali. With an extensive experience that includes prominent positions both in the private sector and in governmental and public entities,  Álvaro Mantilla and Carlos Gustavo Arrieta head the department, with associates Álvaro Mantilla Sánchez  and Ramón Ramírez  coordinating the practice. Clients are also represented before penalty administrative procedures as well as in settlement negotiations with public authorities and private parties. Associates Julián Pachón, Carolina Torres and Julián González complete the seven-strong team; however well-regarded young partner Adriana Espinosa moved to Garrigues as of April 2020.

Key clients


Concesionaria Vial de los Andes – COVIANDES

Concesionaria  Nueva Vía al Mar – COVIMAR

Concesionaria  Constructor Pacífico 1 – CONPACÍFICO

Concesionaria Vial 4G Llanos

Proyectos de Infraestrucutura


Concesionaria Panamericana


Deme Group – Dredging Interantional


Sociedad Portuaria Regional de Barranquilla

Scania Colombia

Patrimonio Autónomo Lagos de Torca

Work highlights

  • Advised Proindesa -the holding company of nine of Corficolombiana’s road concessionaires- on the handling of strategic issues related to the execution of the projects carried out by its subsidiaries; also structured a legal strategy to mitigate the impacts of Covid-19.
  • Permanent legal advice to COVIANDES regarding the performance of the Bogotá-Villavicencio road concession contract; as well as in the sanctionatory administrative process initiated by the Agencia Nacional de Infraestructura (ANI) due to the collapse of the Chirajara bridge; as well as drafting the EPC contract with the company currently in charge of building the new Chirajara bridge.
  • Assisted Dredging International with the structuring of a proposal for the dredging of the access channel of Barranquilla’s port; as well as with structuring the drafting bid in the public tender for the maintenance dredging of Buenaventura’s and Tumaco’s ports.
  • Legal counsel during the execution of COVIPACIFICO’s PPP toll-road contract with Agencia Nacional de Infraestructura (ANI); as well as representation of the client in administrative sanctionatory procedures that ANI has initiated.
  • Providing permanent legal assistance to Aerocali related to the performance of the five airport concession contract signed with ANI and the EPC contracts executed by the client.

Brigard Urrutia

Brigard Urrutia's heavyweight 29-strong practice offers complete advice on structuring both private and state-financed infrastructure projects, acting for project companies, sponsors and construction companies.  Also renowned for project finance and refinancings, the firm's client roster in the sector includes major local, regional and international financial institutions such as multilateral lenders Overseas Private Investment Corporation and Corporación Andina de Fomento, as well as regional and global investment banks and funds.  Six partners head the practice: the highly regarded Manuel Fernando Quinche, who has acted as legal counsel on most of Colombia’s 4G toll road projects; Carlos Umaña, who led the successful representation of China Harbour Engineering Company in the public tender for Bogotá’s first metro line contract, are both highly sought after advisors. On the transactional side, the group benefits from the experience of senior figure Carlos Urrutia Valenzuela, Carlos Fradique-Méndez, and César Rodríguez - a former legal director at El Dorado airport concessionaire, Opain, who made partner in 2019. Also highly endorsed Claudia Navarro, directs the infrastructure and public utilities group. Key associates Julián Parra, Juan Carlos Puentes and Natalia Arango are also all noted. Since publication, Manuel Quinche has announced his departure from the firm, with effect from mid-November 2020.


Claudia Navarro has extensive experience and knowledge of the infrastructure and energy sectors and is very good consultant, she is always capable of identifying solutions‘.

As a plus, the firm’s lawyers stand out is their professionalism and dedication when providing advice.

Commitment and high quality of work. Ability to react on time no matter how much work needs to be done. Senior associate Juan Carlos Puentes stand out for his excellent customer service‘.

What makes this practice unique is its solid professional career in each of its areas, always providing comprehensive advice. As a strong point, the team’s knowledge in the legal and industry market stands out‘.

Key clients

Overseas Private Investment Corporation (OPIC)

China Harbour Engineering Company


Transdev Group



BBVA Colombia

Financiera Desarrollo Nacional

Interamerican Development Bank

BlackRock Infrastructure Management I

Corporación Andina de Fomento (CAF)

Sumitomo Mitsui Banking Corporation

Work highlights

  • Acted for a plural structure integrated by China Harbour Engineering Company and Xi’an Metro Company in the public tender process conducted by Metro Company of Bogotá to award the project for Section 1 of the capital’s first metro line; estimated value of the concession contract, $5.5bn.
  • Legal advice to Perimetral Oriental de Bogotá on the 153km Perimetral Oriental de Cundinamarca road project on the outskirts of Eastern Bogotá,  from Sesquilé to Cáqueza; the project involves investments of around $1bn.
  • Acted as local counsel to BMP Sur on the financing granted by VTF Latin America for the articulated and/or bi-articulated buses of the operating fleet (and reserve flee)t required by the concession agreement for the Lote 5–TUNAL-SUR, plus additional buses that BMP Sur offered as the concessionaire.
  • Acted as local counsel to the lenders (Bancolombia et al) on the financing of the rehabilitation, construction, and improvement of the Bucaramanga–Barrancabermeja-Yondó toll road.
  • Advised Sociedad Concesionaria Operadora Aeroportuaria Internacional (OPAIN), responsible for theAeropuerto Internacional el Dorado de Bogotá, on the refinancing of the company’s dollar debt with BNP Paribas, HSBC Bank USA National Association, Sumitomo Mitsubi Banking Corporation, Bancolombia Panamá, Itaú Corpbanca, and ING Capital.

Durán & Osorio Abogados Asociados

A well-reputed and longstanding name in the field, infrastructure boutique Durán & Osorio Abogados Asociados is involved in the majority of the country's major road, rail and metro and airport projects. Having drafted the standardised public-private partnership (PPP) contract for the fourth generation (4G) concession contracts, the 21-strong practice currently advises private parties, corporations and public authorities on new initiatives for the development of railways projects, including the structuring for Bogotá's first metro line and the suburban 'Regiotram' train project in Cundinamarca. Senior partners Álvaro Durán and Jorge Gabriel Taboada head the practice in conjunction with Carlos Andrés Sánchez  and Álvaro Gasca; all four are very highly regarded. Senior partner Gustavo Osorio, also a key practititoner, recently led the structuring of the PPP scheme for the water and sewage system of the city of Santa Marta. Among a strong second line of senior associates Gigliana Rivero Ramirez and Edgardo Maya stand out, and Felipe Herrera is also noted.


The firm has in-depth knowledge of the sector and its regulatory framework; the active participation of partner Alvaro Durán is particularly recommended‘.

They rigorously analyse the different aspects involved in a matter and define  the legal strategy to be applied very well. The team members also  complement each other very well‘.

I highlight the depth in the analysis of the legal matters entrusted to them. Their conclusions have found support in subsequent judicial decisions, which gives this law firm great reliability. Jorge Gabriel Taboada stands out; his legal support has been essential in solving particularly complex legal disputes‘.

Carlos Andres Sánchez and Felipe Herrera are recommended for their permanent availability, robust knowledge and direct intervention in contracts‘.

Key clients

Financiera de Desarrollo Nacional (FDN)

Empresa Férrea Regional

Agencia Nacional de Infraestructura

Empresa de Acueducto, Alcantarillado y Aseo de Bogotá

Departamento Nacional de Planeación

Financiera de Desarrollo Territorial

Promotora Ferrocarril de Antioquia

Instituto Nacional de Vías (INVIAS)

Aguas de la Prosperidad

Work highlights

  • Advised Financiera de Desarrollo Nacional i0n the legal structuring of the project for the design, construction, operation and maintenance of Bogotá’s first metro line; including drafting documentation for the procurement process and the concession contract, and provided legal support to FDN and Empresa Metro de Bogotá regarding administrative authorisations.
  • Empresa Férrea Regional selected the consortium formed by Durán & Osorio, Egis, Deloitte and Sumatoria to structure and design the Regiotram Project, a suburban train system in Cundinamarca; the project aims to develop over 27 miles of railroads, 20 stations, and transport close to 11 million passengers a year; deal value, $800m.
  • The firm was selected in a private tender by Financiera de Desarrolo Nacional to be the legal advisor in the structuring of phases II and III of Transmilenio’s BRT System in Soacha, a city near to Colombia’s capital, Bogotá; deal value $250m.
  • Advising Financiera de Desarrollo Nacional regarding the Light Railway Project in Avenida 80, one of the main transit avenues in Medellin; as well as ongoing legal support to Empresa Metro de Medellin for the establishment of a legal framework regarding the public tender to select a contractor/concessionaire; deal value $780m.
  • Advising Financiera de Desarrollo Nacional on the structuring of the Hospital Infrastructure Program included in the Action Plan ‘Bogotá Mejor Para Todos en Salud’, via a PPP mechanism; including the structuring for the construction, provision and maintenance of three public hospitals in Bogotá.

Gómez-Pinzón Abogados (GPA)

Recommended firm Gómez-Pinzón Abogados (GPA) is widely known for its participation in ground-breaking project finance transactions, particularly regarding road and airport concessions, and for its financial project structuring capabilities in general. The group advises key players, including government entities, financiers and concessionaires from across a range of sectors, on the structuring of PPPs and concession contracts, as well as regarding participation in tendering processes. Practice heads José Luis Suárez, a project finance expert, and senior associate Paola Larrahondo (practice director) also lead the public law practice. Senior associate Juan Antonio Ucrós, who focuses on litigation, is also a key member of the group, which obtains additional bench-depth with the active participation of some of the firm's key partners including Patricia Arrázola, Ricardo Fandiño, Daniel Londoño, Felipe Mariño and Andrés Hoyos. However, former senior associate Diana Bogotá moved in house at IDB Invest in August 2020.


It is a very complete team, a matter of maintaining on-going improvement policies’.

They are friendly, focused on each case and provide very personalised attention’.

Key clients

Macquarie Capital

Empresa Metro de Bogotá

Ashmore Management

ConSur R7H

Constructora Colpatria

National Planning Department

Graña y Montero/Morelco



Tranisnnova Usme

Electribus Bogotá

Work highlights

  • Advises Empresa Metro de Bogotá on a permanent basis regarding Bogotá’s first metro line project, including advice on public procurement, the bidding process and financial closure of the project.
  • Working – in a consortium with EY – on a feasibility study regarding a possible PPP project for the implementation of an electric bus transportation system on the islands of San Andrés and Providencia, in the Caribbean region.
  • Advised Macquarie-OPAIN on the purchase of 30% of the shares that the Solarte family held in OPAIN SA, the concessionaire of El Dorado airport, in the city of Bogotá.
  • Advised Ashmore Andino II Fund–FCP and Ashmore Andean Fund II on the sale of shares in the company SF Convías, awardee of the concession contract of the cargo corridor and port access of the Barranquilla District.
  • Advised IDOM Consulting, Architecture and Engineering on consultations for the structuring of its Science Centre project; the team has previously advised on the development of the Biodiversity Science Centre in the Risaralda region.

Philippi Prietocarrizosa Ferrero DU & Uría

A leader in structured project finance and bidding processes, Philippi Prietocarrizosa Ferrero DU & Uría provides full accompaniment to sponsors, local and international lenders, multilateral credit agencies and private equity funds, among others, as well as to state entities. Recommended - amid other strengths - for the 'technical and professional quality of the lawyers, as well as the geographic reach through the firm's network of offices' in Chile and Perú, the practice is led by infrastructure and public law heavyweight Jorge Di Terlizzi, and structured and transactional project finance expert Juan Fernando Gaviria. Additional senior input comes from Spanish-qualified consultant Javier Valle, who focuses on banking and project finance. A strong second tier is led by projects team coordinator Carlos Padilla (infrastructure, PPPs and IT projects); associates Camilo Forero and Pedro Arango, from the firm's banking and finance and corporate practices, are also highlighted for their activity in the sector. Since publication, Padilla has been appointed partner, effective as of January 2021.


The team’s strengths and skills are the technical and professional quality of the lawyers, as well as the geographic reach through the firm’s network of offices. They have extensive experience in infrastructure and project issues, advising not only local banks, but also international sponsors’.

Great experience and availability of the partners dedicated to the practice with the possibility of understanding the particular requirements of each transaction in order to successfully include them in the documentation of the transaction’.

Jorge Di Terlizzi, leader of the infrastructure sector. We highlight his knowledge and experience, commitment, professionalism and good performance in carrying out each project. Carlos Eduardo Padilla as one of the coordinators of the infrastructure and projects group. We highlight his professionalism, knowledge in the area and his constant support in each project’.

We recommend Jorge Di Terlizzi and Camilo Forero for their knowledge and experience in infrastructure projects. They are committed to developing and advancing the project’.

The experience and knowledge they have in the sector. Jorge Di Terlizzi and Carlos Padilla. Likewise, Pedro Arango‘.

Key clients

CCECC (China Engineering Construction Company)

Banco Santander

JP Morgan

BTG Pactual

Goldman Sachs

International Development Bank (IDB)


Overseas Private Investment Corporation (OPIC)



Colombian Infrastructure–Equity Fund (CIEF)

China Construction America

Work highlights

  • Counsel to China Civil Engineering Construction Corporation during the process of the award of the Regiotram’s Railway concession; CCECC will be in charge of the construction, operation and maintenance of the first light-train in Colombia connecting Bogotá with surrounding municipalities; value, $1.2bn.
  • Advised Banco Santander and JP Morgan, as lead arrangers, in connection with the $575m financing of the 4G Pasto-Rumichaca toll road.
  • Advised Concesionaria Ruta del Cacao and the sponsors (vehicles of Cintra, Mercantil Colpatria, Ashmore and John Laing) in connection with the $590m closing of the Pasto-Rumichaca toll road financing.
  • Advised Transdev and Fanalca on the tendering process for the award of the Bogotá Metro project, which was awarded to another bidder.
  • Advised Poma (Pomagalski) on the structuring of an unsolicited PPP project for the construction of a cable car transportation system in Cartagena, Colombia; value, $40m.

Castro Leiva Rendón Abogados

Infrastructure and public law boutique Castro Leiva Rendón Abogados undertakes project structuring, advising throughout all stages of project work, as well as the derived contentious disputes against other parties and before administrative authorities and construction boards. Marcela Castro and José Ignacio Leiva head the seven-strong practice, which is also recognised among peers for its project finance capabilities. The team particularly specialises in acting for concessionaires, currently serving as legal adviser to over 30% of the road concessionaires in Colombia. The firm is also experienced in airport and public transportation projects. Senior associates Néstor Camilo López and Camilo Andrés Acevedo both handle bidding and concessions of public contracts, public-private partnerships and dispute resolution; both are integral members of the team.

Key clients

Concesión Pacifico 2

Concesión Unión Vial Río Pamplonita

Concesión Pacífico Tres

Concesión Alto Magdalena

Concesión Costera Cartagena Barranquilla

Shikun – Binui

Mota – Engil

Grupo Grodco

Consorcio Constructor POB

Inverlink Estructuras Inmobiliarias

Concesionaria del Desarrollo Vial de la Sabana


Work highlights

  • Legal advisors on 31% of the country’s road concessions, including Pacifico 2, Unión Vial Río Pamplonita, Mar 1, Santa Marta Paraguachón, Devisab, Costera Cartagena Barranquilla, Alto Magdalena, Pacifico 3, Cambao Manizales, Perimetral de Occidente de Bogotá, Autopistas de Urabá, Aliadas por el Progreso, Mar 2, Conexión Norte, and Autopistas del Nordeste.
  • Legal advisors to major road construction company Odinsa on the acquisition of a 53% stake in the Concession Tunel de Oriente, which includes an 8.2 kilometer tunnel  and is part of the Aburrá Oriente road connection.
  • Successfully represented Autopistas Uraba in a dispute board against the National Infrastructure Agency due to claims regarding the concession contract of Mar2 highway.
  • Legal advisors to Grupo Sacyr – Valoriza on the financing of the Área Limpia concession, repsonsible for the collection of non-usable waste, sweeping and  cleaning of roads and public areas, etc, in the north-western zone (Suba) of Bogotá.

Dentons Cardenas & Cardenas

Providing full accompaniment on project structuring, Dentons Cardenas & Cardenas shines in project finance under the leadership of Bernardo Cárdenas, whose more than 25 years' experience in projects includes advice to multilateral corporations and multinational banks on syndicated loans to the industry. Pablo Jaramillo, promoted to partnership in April 2020 (a little over a year after joining from Norton Rose Fulbright's former local office), has particular expertise in project structuring and development, project acquisitions and complex structured finance operations. With Catalina Pinilla also experienced in project finance, the five-strong practice additionally benefits from the active participation of key figures from various associated practices, notably energy and natural resources department co-heads Jorge Neher and Santiago González; and leading litigator Ximena Zuleta, who acts on transactional and administrative dispute resolution matters.

Practice head(s):

Bernardo Cárdenas

Key clients

Puertos Inversiones y Obras

Sotramac (appointed the firm to act on behalf of development agencies Proparco and FDN)

Group Saur

Work highlights

  • Acted for Financiera de Desarrollo Nacional and Proparco on the structured financing of of Sociedad Operadora de Transporte Masivo de Cartagena (Sotramac), one of the operating concessionaires of the Mass Public Transport System of Cartagena; deal value $68m.
  • Advised Puertos Inversiones y Obras on the structuring of a multipurpose port terminal located in Bahía (in the municipality of Turbo), dedicated to containers, general cargo, bulk, and with an initial capacity of 650,000 twenty-foot equivalent unit (TEU).; the 30-year port concession agreement was signed by the National Infrastructure Agency in March 2019.
  • Advised Group Saur on the acquisition of 100% of the issued shares of Naunet ESP, the holding company of five concessionaires in charge of operating the aqueduct and sewerage systems of several towns in Colombia, along with the performance of the works and investment plan approved in each concession agreement.


Recommended for its quick responses and anticipating clients' needs, Garrigues' projects practice continues to grow in depth and experience, most recently with the key hire of Adriana Espinosa in April 2020; she was formerly the co-head of the infrastructure team at Arrieta Mantilla & Asociados for some eight years. Espinosa - who has expertise in regulatory and project development - now co-leads the Spanish giant's local team in conjunction with counsel Francisco Noguera (who focuses on project finance) and principal associate Iván Fierro, who participated in the country's '4G' fourth generation toll road concession program in his former role at national infrastructure agency ANI. Recent matters saw the ten-strong team assist Transfondo, alongside Empresa de Energía del Pacífico, in the public tender to procure a 500-vehicle electric bus fleet for Bogotá's integrated public transport system.


Very good team. They are available and respond quickly to arising questions. They also anticipate customer needs by anticipating problems and providing solutions‘.

Garrigues is an international legal and tax services firm that seeks to offer the best services to the client, having as a plus knowledge of law at a global level. The firm has raised its name, increasingly supporting complex transactions‘.

The firm’s lawyers differentiate themselves in their international knowledge and in always providing great advice in various areas. Francisco Noguera handles infrastructure and financing issues, his dedication and commitment to providing advice and his participation in each of the projects are highlighted‘.

Knowledge of infrastructure and closeness to its clients‘.

Iván Fierro and Juan Manuel Ospina are shrewd and committed, remain alert about all issues and understand the projects they are involved in.’

Iván Fierro y Juan Manuel Ospina son sagaces y comprometidos, están pendientes de todo y entienden los proyectos en los que se involucran.

Key clients

Financiera de Desarrollo Nacional

Empresa Metro de Bogotá

Empresa de Renovación y Desarrollo Urbano de Bogotá

Promotora y Desarrolladora Mexicana

Scania Colombia / Scania LATAM




BNP Paribas Securities

HSBC Securities (USA)

SMBC Nikko Securities America


Andean Tower Partners Colombia

Work highlights

  • Co-counsel (with Durán & Osorio Abogados Asociados) to Financiera de Desarrollo Nacional and Empresa Metro de Bogotá on structuring the first line of Bogotá’s incipient metro system.
  • Assisted Empresa de Renovación y Desarrollo Urbano de Bogotá with supervision of the launch of a PPP concession project for the development and construction of the new administrative center of Bogotá.
  • Advised Prodemex on the participation in a public tender to build social healthcare infrastructure  as part of the Bosa Hospital project in Bogotá.
  • Assisted Scania Colombia and Scania LATAM in their participation – as suppliers – in a public tender to renew Bogotá’s Integrated Public Transport System (SITP)’s bus fleet.

Posse Herrera Ruiz

Recommended for possessing a 'multidisciplinary approach' and 'always seeking excellence', Posse Herrera Ruiz advises a wide array of clients, including sponsors, lenders, contractors and operators, developers and government entities, on all project-related matters including financing, tendering processes, structuring and operational concerns. Following the surprise departure of former practice co-head Alessia Abello in October 2019, José Alejandro Torres (who is also experienced in corporate, public law and real estate issues) continues to lead the 15-strong team that has been particularly active on projects linked to the construction of 4G toll road concessions, the Bogota metro and the RegioTram rail network. Founding partner Mariana Posse has a significant participation in project financing work. Álvaro José Rodríguez focuses on structuring and implementing energy and natural resources projects, in particular renewables. Former senior associates Sebastián Lora and Paola Aldana left to join DLA Piper Martinez Beltrán in January and April 2020, respectively; however since publication, the firm has moved to reinforce the practice with the late October-2020 hire of Isabel Cristina Vásquez as director of the firm's infrastructure and public law areas; with over 20 years' experience in the projects sector -most recently at Construcciones El Cóndor- Vásquez will be based in the Medellín office.

Practice head(s):

José Alejandro Torres


We highlight the commitment of each of the lawyers in the various areas, their knowledge and their expertise when solving the different queries. They possess great qualities such as professionalism and empathy when dealing with clients’.

Key clients

APCA Metro Capital


Corredores Davivienda

Terminal de transporte de Bogota

Promotora Miel II




AAGES Global Energy Solutions

Puerto Antioquia

Work highlights

  • Advised a business consortium comprising Siemens Projects Ventures, ICA Constructora, Power China International Group, Controladora de Operaciones de Infraestructura and Strukton Integrale Projecten, on participating in the bidding process for the construction of Bogota’s first metro line (the project was awarded to another bidder).
  • Advised Bancolombia and UPI on the long-term financing of the 4G Autovia Neiva Girardot toll road project; deal value, $230m.
  • Offered legal counsel to Corredores Davivienda, the advisors to Empresa Ferrea Regional de Cundinamarca, on structuring the financing for the RegioTram project, which will link Bogota’s largest suburb to the city centre by rail.
  • Advised hydroelectric project Promotora Miel II on the structuring of a project to encourage private equity investors, including preparing the necessary documentation for the process; the team also provided legal counsel on participating in the reliability charge auctions.
  • Advised Sacyr on the long-term financing for the Pasto-Rumichaca toll road. The financing contemplates two – on one hand, a credit agreement governed by the laws of the State of New York, for an amount of $375m. On the other hand a  finance agreement governed by the laws of the State of New York,  with the Overseas Private Investment Corporation for $200m.

Baker McKenzie S.A.S.

Baker McKenzie S.A.S.' energy, mining and infrastructure practice advises clients on establishing partnerships with other interested bidders to participate as joint ventures, consortiums and SPVs in bidding processes, as well as more typical structuring and development matters and acting in relation to administrative investigations, sanctions and administrative and constitutional litigation. Noted practitioner Alejandro Mesa, who also co-leads the public law practice, and Carolina Duque, who arrived in August 2019 (formerly a senior associate at Philippi Prietocarrizosa Ferrero DU & Uría , she had left in February 2019 to establish Duque Velazquez Abogados), co-head a 15-strong group, the teamwork of which is particularly commended. Promoted to the partnership in October 2019, Ricardo Trejos focuses on project and acquisition finance, while dual-qualified (Colombia/New York) senior associate María Montejo is also an integral member of the practice.

Practice head(s):

Alejandro Mesa; Carolina Duque


As a team they work very well. At no time do you feel neglected or do you notice that there is someone on the team who is outside the loop, since all the queries raised are answered in a timely manner.

Paula Melendro, María Montejo and Alejandro Mesa each complement the team in such a way that the work is harmonious between them and the objectives are met at desired times and qualities’.

Key clients

Sistemas Operativos Móviles (“Somos K”)



Bonus Banca de Inversion


Work highlights

  • Advised Bonus Banca de Inversión on the structuring of two PPP projects  for the construction, refurbishment, operation and maintenance of roads in the department of Valle del Cauca.
  • Assisted Morelco, a subsidiary of Peruvian company Graña y Montero, with all legal matters related to its participation (through a joint venture with third parties) in a public bidding process to build and operate a certain expansion of the power transmission infrastructure in La Guajira.
  • Advised Aena on the structuring of a PPP project for the expansion of Cartagena’s international airport Rafael Nuñez; the firm is also advising the client on the structuring of a PPP project for the construction, modernisation, expansion, operation and maintenance of four airports in Colombia.

Infraestructura Legal SAS

Boutique firm Infraestructura Legal SAS renders specialised advisory services on the legal structuring of infrastructure projects, mainly projects under a PPP arrangement. Acting for investors, constructors, concessionaires, as well as public state entities, the firm has managed the development of road construction, urban highways, penitentiary facilities, airports, waterways and environmental recovery projects. Founding partners Francisco Suárez (who has approaching 25 years’ experience in the sector) and Francisco Real (PPPs, contract negotiation and administrative law) co-head the five-strong boutique. In recent highlights, the team advised the Colombian Chamber of Infrastructure on analysis of the alternatives to be presented before the Ministry of Finance and the national government, in order to achieve the release of long-term investment resources associated with the budgetary commitments of the fourth generation of road concessions.

Key clients

Bonus Banca de Inversion


IKON Banca de Inversion

MGM Innova Capital

Cal y Mayor

Instituto de Desarrollo Urbano (IDU)


Instituto Distrital de Recreación y Deporte (IDRD)

Cámara Colombiana de la Infraestructura

Work highlights

  • Advised Bonus Banca de Inversión on the legal structuring of a $1bn PPP project for the recovery of degraded ecosystems of the dam watercourse – Canal del Dique – on the Magdalena River; the project entails the maintenance of the navigable watercourse, the construction of two floodgates and the construction of two protective and interconnecting structures between the bodies of water.
  • Advised Bonus Banca de Inversión on the legal structuring of the $250m PPP project for the design, construction, operation, maintenance and financing of the urban highway Circunvalar de Oriente, a 9.6km road project located in the southeast sector of Bogotá.
  • Advised Cal y Mayor–Ikon Consortium on the legal structuring of the Strategic Public Transport System for the city of Neiva on behalf of Transfederal, the public entity in charge of the management of the transport system in the city.

ZULETA Abogados Asociados S.A.S

Renowned for its expertise in dispute resolution - particularly arbitration - relating to infrastructure and oil and gas projects, Zuleta Abogados Asociados S.A.S' recommended six-strong practice undertakes advisory regarding road, rail, health, transport and airports projects, generally private finance initiatives. Practice co-head Miguel Castro (who also leads the public law area) specialises in public procurement and administrative law matters, particularly PPPs. Recent mandates saw Castro lead advice on the structuring of the PPP for the construction of 'Autopista ALO Sur' in Bogotá, Colombia's first urban toll road. Working in tandem with co-head Rafael Rincón, who has significant experience in transnational disputes, the group is also representing a client in an international arbitration arising from a major road infrastructure project.

Practice head(s):

Miguel Castro; Rafael Rincón


Reliable, they are a team that thoroughly reviews the details and is not limited to noticing the common impacts but rather, they deepen their practice until they reveal the complete panorama through their work. They really are as good as the largest firms in Colombia and more affordable and simple’.

Miguel Castro is a warm person dedicated to his work; he quickly understands what the client wants by being concrete and honest, he is very professional and can be close to clients, the latter is what most lawyers do not have. He quickly identifies the problem, and the best quality is that he takes the appropriate time to write documentation in the most suitable way’.

Key clients

Pavimentos Colombia


Currie & Brown

Torrescámara y Cia de Obras

Autopista Río Magdalena (SPV)

Valtalia Investments


Conconcreto / Pactia  / Grupo Heroica

Work highlights

  • Advised Pavimentos Colombia and Mario Huertas on the legal structuring of a PPP consisting in the design, construction and O&M of the Autopista ALO Sur toll road project located in Bogotá.
  • Advised Odinsa and Pavimentos Colombia on the legal structuring of a PPP consisting of the design, construction and O&M of works on the El Dorado Airport’s runways; value, $300m.
  • Advised Currie & Brown on drafting, negotiation and contentious matters concerning a public contract with the FDN to structure five PPP hospital projects in Bogotá.
  • Advised COPASA on prequalification and qualification processes for PPP projects such as the Bosa public hospital in Bogotá, as well as in  different public biddings such as those of National Roads Institute (INVIAS) for contracting different kinds of public works.

Holland & Knight

Holland & Knight is primarily active on the project finance side of 4G road infrastructure projects. Norberto Quintana and Enrique Gomez-Pinzon  are the key practice contacts, with Colombian infrastructure promotion agency Financiera de Desarrollo Nacional (FDN) a major client.

CMS Rodríguez-Azuero

CMS Rodríguez-Azuero's multidisciplinary practice handles environmental, urban, public law, anticorruption, corporate and tax matters related to the development of infrastructure projects, as well as issues arising in the day-to day performance of operational contracts. Experienced in public procurement, the group is particularly skilled at project and corporate finance, advising potential investors on projects' precontractual stages.  Heading the five-strong team, Daniel Rodríguez - who also leads the firm's competition and public law areas - is experienced acting as arbitrator in national arbitration controversies related to infrastructure. Senior associate María Lucía Amador is a key team member and also participates in the banking and finance and compliance practice areas.

Practice head(s):

Daniel Rodríguez

Key clients

Promotora ACR

Centro de Gerenciamiento de Residuos Doña Juana

Work highlights

  • Advised Promotora ACR on almost every legal aspect of the construction of La Serrezuela, a luxury retail centre in Cartagena’s iconic walled city.
  • Advised Centro de Gerenciamiento de Residuos Doña Juana on the structuring of the financing of a credit facility to be granted to a waste landfill in Colombia.

Coral Delgado & Asociados

A leader in the auditing of public concession projects, boutique firm Coral Delgado & Asociados assists public entities and private concessionaires with the review of PPP-structured projects and concession contracts, specialising also in undertaking the termination of concession contracts. The firm also handles dispute resolution matters and is acting on behalf of private companies in fiscal and contractual discussions with the General Comptroller of the Republic. Founding partners Javier Delgado and Alfredo Coral, who both have over 20 years in the market, head the 12-strong firm, which displays a second line of experienced senior associates in the figures of projects group director Diana María Bonilla, corporate and private law director Lady Estupiñán and Stella Judith Gutiérrez, director of litigation and arbitration.

Practice head(s):

Javier Delgado; Alfredo Coral

Key clients

Unidad Administrativa Especial de Servicios Publicos (Uaesp)

Interventoría Legal Liquidación Contrato de Concesión Via al Puerto

Cano Jiménez Estudios | Consorcio Intersab

Empresa Férrea Regional | Unión Temporal FGC (Ardanuy)

Departamento Administrativo dedLa Defensoría del Espacio Público (Dadep)

Interventoria Contrato de Concesión Ruta Del Sol Tramo 3

Work highlights

  • Advised the Subdirectorate of Funeral Services of the Special Administrative Unit of Public Services of Bogotá on the legal structuring of the new scheme for the provision of comprehensive funeral services, under the modality of a concession contract, for four public cemeteries in Bogotá.
  • Legal advice to Agencia Nacional Infraestructura (ANI)  and Consorcio CR Concesiones on the legal audit of the 4G PPP contract for the Conexión Antioquia Bolívar project.
  • Advised – as part of the legal and financial component of an audit process – on the termination, reversal and early settlement of the concession contract between ANI and Concesionaria Vía Pacífico.

DLA Piper Martinez Beltrán

Noted for its 'geographic reach through the firm's network of offices', DLA Piper Martinez Beltrán stands out for the project financing and refinancing of road, port and tram projects, as well as more typical energy and real estate matters. Benefiting from the experience of practice heads Felipe Quintero, Camilo Martínez and Juan Manuel de la Rosa in M&A and financial transactions, the ten-member team was further strengthened in January 2020 with the arrival of Sebastián Lora. Already a recognised advisor to lenders, borrowers and local and international financial institutions, he joined from Posse Herrera Ruiz. Additionally, the firm's well-reputed dispute resolution department, co-led by Martínez, regularly represents projects clients before administrative authorities, in litigation and in contractual settlements.


The team’s strengths and skills are focused on the technical and professional quality of its lawyers, as well as the geographic reach through the firm’s network of offices. They have extensive experience in infrastructure and project issues, advising not only local banks, but also international sponsors’.

Key clients


Concesionaria Vial Andina – CorfiColombiana

Gia Colombia

KMA Construcciones




Autopista Mar 2



Grupo Aval


Work highlights

  • Advised Termomorichal, as borrower, on its refinancing by Banco Santander (Spain) and Sabadell (Miami), including security packages in both Colombia and the US.
  • Acted as legal counsel to Sociedad Concesionaria Vial Andina in the financial closing of Chirajará-Fundadores project, a private initiative PPP.
  • Advised the IDB on the project finance to Concesionaria Ruta del Cacao for the Bucaramanga –Barrancabermeja – Yondó toll road; the team also advised all the lenders regarding the intercreditor agreement.

Esguerra Asesores Jurídicos

A leader in regulation and public law, Esguerra Asesores Jurídicos advises on the structuring and bidding process of construction projects, in particular those relating to the airport and urban infrastructure segment, as well as software and technology projects. The practice also has a strong record in handling associated contractual disputes. Co-heading the public law practice, Felipe Piquero, who is very active in arbitration of airport concession cases, and Juan Pablo González, who focuses on project finance, co-lead a now eight-strong team following the departure of transport regulation specialist José Vicente Guzmán to found Guzmán Escobar & Asociados. Among other highlights, the firm acted as advisor to the Colombian Infrastructure Equity Fund on the process of analysis, evaluation and acquisition of the concession company Aeropuertos de Oriente. Director of the public law practice Adriana Nieto is also a key member of the group.


It is a very good team that shows total disposition to the attention of the process and the required meetings’.

We’d highlight the constant willingness to attend the client’s concerns, reviews, meetings, etc. As of late, we have worked with Daniel Beltrán and Andrés Parias’.

Key clients

Ministerio de Transporte

Siemens Mobility


Colombian Infrastructure Equity Fund (CIEF)

Banco Interamericano de Desarrollo (BID)

Sociedad Portuaria Regional de Barranquilla

Sociedad Portuaria Rio Córdoba

Sociedad Portuaria Regional de Santa Marta

Sociedad Portuaria Regional de Tumaco

Sociedad Portuaria Regional de Cartagena

Work highlights

  • Advised the Ministry of Transport on the legal structuring of the new concession that will operate the RUNT project (Single National Registry of Transit), involving software and computer services, hardware and electronics; and legal structuring advisory comprising bid documents, concession agreement and a risk allocation matrix.
  • Advised Siemens Mobility during the bidding process on the selection of the contractor that will carry out the necessary work for the Bogotá Metro Project and will subsequently act as its operator for the next 27 years.

Gamboa Abogados

Gamboa Abogados has an established trajectory in the development of Colombia’s seaport infrastructure segment, as well as acting in complex dispute cases involving insurance companies. The practice advises concessionaires and local and international contractors on the structuring and execution of major port projects, and is also experienced in airport infrastructure. Commanding over 30 years' experience, litigator and arbitrator Ernesto Gamboa leads the seven-strong practice group. Also active in the sector, Eduardo Gamboa focuses on commercial, corporate and procedural law matters, while Paula Isaza's practice is centred on commercial law, as well as in competition and labour law matters.

Practice head(s):

Ernesto Gamboa

Key clients

Compañía De Puertos Asociados (Compas)

Sociedad Portuaria Puerto Bahía

Pacific Midstream

Sociedad Puerto Industrial Aguadulce (Spia)

Monómeros Colombo Venezolanos

Work highlights

  • Represented Sociedad Portuaria Puerto Bahía in legal disputes with insurance companies in relation to an EPC agreement for the construction of a liquid port terminal in Cartagena with Consorcio ITT.; the client initiated a $2.3m claim against the Liberty Seguros that ensured all risks derived from the advance payment.
  • Succesfully represented Compas in an arbitration proceeding against Centra claiming compensation for damages caused by the breach of EPC agreements for the construction of two port terminals in Barranquilla.
  • Provided legal advice to Pacific Midstream on the sale of its ownership in Oleoducto Bicentenario de Colombia


The former Godoy & Hoyos Abogados, now re-branded as Goh, advises national and international construction companies and concessionaires on public and private contracting, PPPs and project finance, as well as accompanying clients' bidding processes for road, transport and energy projects. The firm's dispute resolution practice also acts in litigation before regular civil and commercial courts, contentious administrative tribunals and arbitration panels in relation to projects matters. Jaime Moya, noted for his alertness to detail and availability, heads a six-strong team that - in a key highlight - advised Consortium Unión Metro Capital in the public bidding process for the design, construction and operation of Bogotá's first metro line. Associates Steffany Serebrenik and Natalia Fernández are also noted.

Practice head(s):

Jaime Moya


Despite being a medium-sized firm, their lawyers are very well-trained and the partner is always in charge, unlike other firms where you only see the partner when the advisory is signed and when it is closed. Without a doubt, that is a value, which added to the quality of the team makes it stand out in the face of the great players in the market’.

‘[We recommend] Steffany Serebrenik, an associate, for her dedication and for her precision of concepts when answering, added to her speed and attention to the client, as well as the follow-up on the issues and obligations of the clients. Jaime Moya, as a partner is always present, alert to all the details and with permanent availability, coordinating his team and not merely delegating. Also, associate Natalia Fernández, for her dedication and solid work documents’.

Key clients

OHL Colombia

Sacyr Concesiones Colombia


Concesionaria Desarrollo Vial al Mar  (Devimar)

Empresas Públicas de Medellín

Hyundai Engeneering and Construction

Stoa Infrastructure & Energy


Work highlights

  • Provided general legal advice to Devimar and its sponsors on the structuring, negotiation and closing of the financing of the $714m Autopista al Mar 1  project, of which Devimar is a concessionaire.
  • Advised Consortium Unión Metro Capital on the public bidding process for the design, construction and operation of Bogotá’s first metro line; the advisory included the drafting of all relevant agreements among consortium members and between the consortium and construction, procurement and operational subcontractors.

Muñoz Tamayo & Asociados

Muñoz Tamayo & Asociados renders integral advice throughout the entire project lifecycle, including all financing aspects, as well as handling contentious matters and contractual disputes. Serving national and international construction companies and concessionaires, the multidisciplinary seven-strong team, led by founding partner Diego Muñoz Tamayo - who has an eminent trajectory in the highly regulated energy and telecoms sectors - most notably assisted clients in relation to the landmark projects of the first metro line in Bogotá and the Regiotram. The practice is also active in airport infrastructure and in the 4G toll road concession programme, as well as having robust energy (particularly in renewable projects) and TMT practices. Felipe Trías, with over 35 years' experience in transactional and project finance, and senior associates María Guzman and Fernando Bermúdez are also key members of the team.

Practice head(s):

Diego Muñoz Tamayo

Key clients

Trina Solar Spain

Hyundai Engineering and Construction

Asociación Nacional de Empresas Generadoras  (ANDEG)

Esquivensa (previously Solmico Oil)


One World Pharma

Work highlights

  • Assisted Hyundai Engineering and Construction with the analysis and evaluation of its participation in a concession contract for the construction of the Bogotá Metro.
  • Assisted a leading Spanish multinational group focused on the provision of comprehensive transport solutions -including the railway industry – in relation to both the Bogotá Metro project and the Regiotram.

Palacios Lleras

Palacios Lleras makes a new entry to the tables on the back of the May 2019 incorporation of Ángel Castañeda, who for nearly 20 years co-led the regulatory and project structuring firm Castañeda & Velasco. A former head of the legal office of the Regulating Committee for Gas and Energy (CREG), Castañeda heads a six-strong practice which also includes associates Luís Alberto Vicuña and Felipe Forero, practising in the energy sector for over 11 years and eight years respectively, and who also joined from Castañeda's former firm. The firm as a whole has highly specialist knowledge on power and gas regulation and advises clients such as Promigas on project finance contracts.

Practice head(s):

Ángel Castañeda


Specialised knowledge in regulatory issues, especially in the areas of transportation, distribution and marketing of fuel gas by networks. They are also recommended for working with excellence, being available 24 hours, their kindness and being constantly updated on regulatory matters’.

Ángel Castañeda is recommended for his kindness, professionalism and disposition to attend issues immediately’.

Key clients



Work highlights

  • Rendered legal advice to Promoenergía on the negotiation of the sales and development contracts of three wind farms: Culantral,  Magdalena and Galerazamba.
  • Advised Promigas on the expansion of the transport and distribution network of the company.