Colombia announces new road projects

Four road projects worth $3.56bn will help boost growth and competitiveness in the Meta region.

The Colombian government is fully committed to moving forward with four transportation infrastructure projects totaling COP6.7 billion (€2.68 billion, $3.56 billion) in the country’s Meta department, which will upgrade the region’s road networks and boost its competitiveness, according to Luis Fernando Andrade, president of the National Infrastructure Agency (ANI).

“The road works for Meta connectivity are the most important regional project that is developing in the country, comparable only with the Highways for Prosperity,” Andrade said during a presentation of the agency’s development and modernisation strategy for the region.

The four major projects are the Bogota-Villavicencio highway, valued at COP3.7 billion; the Meta Road Network, worth COP1.3 billion; the 260-kilometre highway connecting Villavicencio to Yopal; and the Puerto Gaitan-Aguazul corridor, which will connect the departments of Meta and Casanare and provide an alternative north-bound commercial route, according to ANI.

A combination of public sector and private sector funds will be used for financing these projects, which ANI expects will create more than 27,000 jobs in the region.

ANI is responsible for structuring public-private partnerships (PPP) in transportation infrastructure. It had announced last year its $20 billion programme for upgrading the country’s road networks.