Sacyr to begin work on Colombia's Canal del Dique in February

Spanish construction firm Sacyr has established a timeline for the Canal del Dique project in Colombia. The company expects to reach financial close in December, with construction scheduled to begin in February.

The $900 million megaproject covers 115 kilometers across the departments of Bolívar, Sucre, and Atlántico. The project aims to regulate sediment flow to prevent the deterioration of the Cartagena Bay, Barbacoas Bay, and the Gulf of Morrosquillo.

Development had previously been stalled for four years due to administrative delays regarding mandatory prior consultations with indigenous and Afro-descendant communities. The project is expected to generate 60,000 direct and indirect jobs and provide 300 billion pesos in social compensation for 18 surrounding municipalities. Execution is projected to last 40 months.