Autopista del Coral

Project Description

This summary covers an investment by Autopista del Coral Capital Funding Trust (funded by GOVCO LLC and Citibank N.A.) of the United States in Autopista del Coral in the Dominican Republic. The investor has applied for a MIGA guarantee of $310million of principal and interest for a period of up to 10 years against the risk of non-honoring of sovereign financial obligation. This insurance will cover promissory notes issued by the Government of the Dominican Republic through the Ministry of Finance to pay for the construction of the Autopista del Coral highway construction, pursuant to the terms agreed under the Contratos de Construcción y Financiamiento de la Autopista del Coral between the Government of the Dominican Republic and Autopista del Coral S.A., a company wholly owned by Tenenge Overseas Corporation, a 100% subsidiary of Construtora Norberto Oderbrecht S.A.

Autopista del Coral consists of the development of a 70 kilometer toll road connecting the capital city of Santo Domingo to tourism locations (Punta Cana and La Romana areas) in the eastern region of the Dominican Republic.  The project is part of the East Highway Corridor being constructed by the government.  

Environmental Categorization

The project is a category A under MIGA’s Policy on Social and Environmental Sustainability. Click here to view the Environmental and Social Review Summary and here to view the Environmental and Social Impact Assessment.

Development Impact

The main development impacts that will accrue from the project are reduced travel time between La Romana and Punta Cana, reduced vehicle operating costs, as well as improved road safety.

The project is aligned with MIGA’s commitment to supporting more investments in complex deals in infrastructure.