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Quito Metro Line 1 achieves financial closure, secures CAF loan for Phase 2 [free access]

July 18, 2018

Corporacion Andina de Fomento (CAF), the development bank of Latin America, has approved a loan of USD152.2 million for the construction of Phase 2 of Quito Metro Line 1. Further, Metro de Quito, the developer of Quito Metro, has announced that the USD1.4-billion project has achieved financial closure.

 

The project involves the construction of a 22.6-km (underground) line and 15 stations. It is being constructed in two phases, both of which are required to be completed for the line to become operational. Phase 2 involves the construction of a 22-km tunnel, 13 stations, access tunnels, a depot and maintenance workshop, and installation of infrastructure systems. Spain-based Acciona is constructing Phase 2, which is expected to be completed by 2019.