Minhacienda’s Mauricio Cardenas Affirms Government’s “Absolute Support” For Bogotá’s Proposed Metro

Colombia’s Finance Minister Mauricio Cardenas, confirmed last Monday “absolute support ” by the national government for the proposed construction of the Metro de Bogotá, the capital city’s planned subway and light rail project.

While participating in the regional forum of the National Development Plan (NDP) in Bogotá, Cardenas said that the Financial National Development (FDN), under Minhacienda, the Ministry of Finance is conducting financial analysis and structuring to establish which part of the project will be built with public funds and what could be funded through Public Private Partnerships (PPPs).

“The Development Plan authorizes the government to invest in rolling stock (train cars) and for the national government to contribute up to 30% of the total investment of the Bogota Metro project,” said Minister Cardenas.

The financial structuring should be completed by May, so that a tender or bidding process may be floated in the second half of the year.

He said: “Bogotá has come out well in the Development Plan in areas such as the Metro, the public transport system, expansion of Transmilenio, building the backbone of Avenida Boyacá, rehabilitation of Avenida Caracas, besides the issuance of educational scholarships through the ‘Pilo Y Paga’ program, and extending the school day, backed by improved infrastructure. ”

Cardenas also said that the government is considering a public-private initiative to build a commuter train that will enhance the Integrated Public Transport System (SITP) of Bogotá to reach and serve outlying areas like Chia, Zipaquirá and Soacha.