As Spain’s Fomento de Construcciones y Contratas (FCC) sells its 50% stake in Globalvia, a leading international road developer-operator, it is struggling to refinance its debt and reinvent itself as an international player.

To that end, FCC recently booked a P3 deal in Colombia’s Antiquoia state to build a 10-km-long tunnel worth Euro 392 million (US$415 million). FCC will head and hold 40% of the Servicios Ciudadanos consortium, local firms will hold 60%. The Túnel del Toyo, which includes a 40-km four-lane highway connecting it with the state capital city of Medellín, will be Colombia’s longest when it comes into service in six years.