Colombia Floods Focus Infrastructure Agenda
Devastating floods that have wreaked havoc on Colombia’s roads and highways are forcing a rethink in government. This could boost the infrastructure investment climate.
by Amy Stillman
Since former president Álvaro Uribe poured a recession-busting $24 billion into infrastructure development in 2009-2010, Colombia has made strides in improving its notoriously poor transport network.
But the Andean country will need to spend a further $42.1 billion on transport infrastructure in 2011-2018, according to the latest data from the ministry of transport. Industry experts believe that last year’s flooding provides the impetus to fast-track the process.
"The government was working on attracting infrastructure investment from institutional investors, and that work coincided with the flood situation in the northern part of Colombia," says Carlos Umaña Trujillo, infrastructure practice head at Brigard & Urrutia Abogados in Bogotá. Umaña last year advised Italian construction company Impregilo, and Colombia’s Conalvías, Bancolombia and CI Grodco S en CA on a winning bid for a third tranche of the $2.7 billion, 1,000 kilometer Ruta del Sol highway contract....
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