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.
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
"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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