FON Global Alliance Members’ Infrastructure Projects in Colombia and India

Arlington, Va., June 9, 2021 – Many of our clients have impressive stories to tell, and we are pleased to share recent FON Global Alliance members’ experiences in infrastructure projects for Grupo ISA in Colombia and IL&FS Transportation Networks Limited in India. Grupo ISA is one of the largest infrastructure firms in Latin America, specializing in the electric power, toll roads, and telecommunications sectors.

ISA Group is comprised of more than 51 direct companies and 14 strategic alliances, covering numerous countries from Central America through Chile. Grupo ISA acquired the shares of the Concession Costera Cartagena Barranquilla SAS, a major toll road concession in Colombia, for US$528 million. This Concession has 146 km (90 miles) of roads connecting two main cities: a 110 km route from Cartagena to Barranquilla and a 36 km toll road between Malambo and Barranquilla. The project includes the 5.4 km Gran Manglar Viaduct located on the Ciénaga de la Virgen in Cartagena, greatly improving access between Cartagena, Colombia’s 5th largest city, and the Caribbean port area of Barranquilla. FON Global Alliance member Vertex Resources supported Grupo ISA in its financial reporting requirements by performing a valuation in accordance with IFRS 3, Business Combinations.

IL&FS Transportation Networks Limited (ITNL) is a surface transportation infrastructure company and Build-Operate-Transfer (BOT) road operator in India. Since its inception, ITNL has been involved in the development, construction, implementation, operation, and maintenance of national and state highways, roads, flyovers, and bridges. ITNL has grown into the largest BOT road asset owner in India with approximately 13,100 lane km in its portfolio. It is a market leader in the Transport Infrastructure Sector and also has a presence in metro rails, city bus services, and border check posts. FON Global Alliance member Adroit Group is assisting ITNL with valuations for strategic advisory purposes.

Our expertise with the valuations of toll roads and infrastructure projects, such as the Grupo ISA and ITNL infrastructure projects, means that we are able offer clients cutting edge solutions founded in proven techniques and industry knowledge. We believe that our ability to work with our clients on all forms of infrastructure worldwide sets us apart from our peers. We aim to partner with innovators and provide them with the business solutions that they need.

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FON Global Alliance supports domestic and cross-border transactions through its network of 25 affiliated companies located throughout the Americas, Europe, the Middle East and Africa, and Asia/Pacific. Member firms seamlessly deliver independent advisory services from valuations for financial and tax reporting/compliance matters to investment banking services (mergers & acquisitions, divestitures, restructuring, capital markets) to real estate insights & advisory.

FON is a financial advisory firm dedicated to investment banking, valuation advisory, management consulting, and principal investing across the aerospace, defense, and government services industries. As current and former members of regulatory and standard-setting organizations, FON’s valuation practice provides services informed by decades of experience. In advising high- net-worth individuals, public and private companies, equity and debt investors, transaction advisors, compliance and regulatory agencies, and state and federal courts, our professionals approach each mandate with an appreciation of its unique requirements and challenges. We have performed valuations of assets and business interests throughout the Americas, Europe, Middle East and Africa, and Asia/Pacific.

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Want to learn more about how FON Valuation Services can help your business? Contact our team:

Raymond Moran, ASA, MRICS
Managing Director |

Jouky Chang
Managing Director and Practice Leader |

FON Global Alliance Members’ Infrastructure Projects in Colombia and India