BOGOTA, (Reuters) – Colombia will invest more than 100 trillion pesos ($24.9 billion) in rail, port, river and road infrastructure projects during the current presidential administration in a bid to boost economic development in various communities, the transport minister said on Monday.
The South American country, with a population of around 50 million, is still lagging behind in its road, port and airport infrastructure, considered by experts to be a top bottleneck for its international trade.
Minister of Transport William Camargo said that the 31 projects aim to reactivate 1,800 kilometers of railroad network, the construction of 15 highway projects, the modernization and expansion of five airports and the strengthening of the river and port system.
“Through these new projects, once the required timeframes for studies, awarding and pre-construction are met, we will continue to strengthen transportation infrastructure as an engine for the country’s economy, generating jobs, boosting development and bringing regions closer together,” Camargo said at a press conference.
During its first 13 months in office, the government of President Gustavo Petro has allocated 8.94 trillion pesos for the signing of eight contracts that are already underway, the minister said. Petro’s four-year term will end in August 2026.
At the end of August Camargo said that around 580 bridges are in critical condition in the country, requiring investments of up to 2 billion pesos.
