The Tren del Caribe, or Caribbean Train, connecting Cartagena, Barranquilla, and Santa Marta, is close to approval.
The Caribbean Train, which promises to revolutionize passenger transportation between Cartagena, Barranquilla, and Santa Marta, is gearing up to take a crucial step in the remainder of 2023.
Findeter has made significant progress in structuring the mega-project, and the coming year is expected to be decisive for its construction.
In an interview with Valora Analitik, the Minister of Transportation, William Camargo, confirmed that the Caribbean Train should soon reach its financial closure.
In fact, the official indicated that they hope to achieve this milestone before the end of the local governments, meaning by the end of 2023.
“As soon as that closure is viable, we could move forward with that project, which also has interesting potential because it could involve, in its construction when it is already in progress, the Bayunca airport,” he affirmed.
Details of the Tren del Caribe
Designers are currently working on a new airport for Cartagena, situated on the outskirts of the city, approximately 35 or 40 minutes from the Historic Center of the city.
The government’s plan aims to create a connection between the future airport and the Caribbean Train, further boosting tourism in this northern region of Colombia.
“The completion of the project may take six to eight years. It has potential for users who, for example, coming from international flights, have as their destination as one of these three cities on the northern coast of the country,” Camargo added.
Transport Minister William Camargo says the Tren del Caribe could achieve financial backing before the end of 2023. Source: Valora Analitik.
In any case, the Minister of Transportation added that for the Caribbean Train to get the green light, it requires a commitment of future resources and fiscal endorsement, as it involves significant investments.
Recent calculations by Findeter indicate that the mega-project could cost around $6.6 trillion COP, requiring resources from various sources.
Thus, future resources and fiscal endorsement would be necessary from the three departments (Bolivar, Atlantico, and Magdalena), as well as from the municipalities along the route.
Minister Camargo stated that discussions, including these and others, should be analyzed within the framework of the new norm in Colombia, which enables the nation to finance higher percentages of projects, exceeding 70%.
“We are always open to having that conversation,” concluded the official.
