Colombia’s ISA Lost Highway Construction Project, El Tiempo Says

Colombian President Juan Manuel Santos said the project to build a highway system won’t be awarded to Interconexion Electrica SA (ISA), a Colombian energy and roadway company, El Tiempo reported.

The project will be assigned through a public auction because the company, known as ISA, didn’t meet the necessary legal requirements, Santos said June 8, the Bogota-based newspaper said.

The project will cost about 17 billion pesos ($10 million) and will be directed by Federico Restrepo, former chief executive officer of Empresas Publicas de Medellin SA, El Tiempo said.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net