Colombia is the fourth largest economy in the region after Brazil, Mexico, and Argentina. In recent years it has made significant progress, becoming one of the fastest-growing economies in the region, with an average annual growth rate of around 3.5% over the past decade.
One of the critical drivers of Colombia’s economic growth has been its diverse economy, which is heavily dependent on natural resources such as oil, coal, and minerals, but also has a well-developed manufacturing and service sector. The country’s geographical location, which provides access to both the Pacific and the Caribbean, has also made it a strategic hub for trade and commerce, with significant investments in port infrastructure and transportation networks.
Colombia has invested heavily in infrastructure projects in recent years to improve its road network, airports, and seaports, which has led to increased connectivity and reduced transportation costs. The country has also invested in the modernization of its telecommunications and energy infrastructure, which has helped attract foreign investment and boost economic activity.
The government just announced that they will invest another 3 billion dollars in further improving that infrastructure. And it’s not only the Colombian government that sees both the need and potential to upgrade the infrastructure. Crossrail International, a specialist advisory practice wholly owned by the UK government’s Department for Transport (DfT), has just signed an agreement to support Colombia’s Rail Master Plan.
Road and Rail Infrastructure Projects
A large part of the investment, almost 70%, has already been committed to the country’s fourth and fifth-generation road projects. Colombia is a challenging place for building roads. The country is very mountainous, and many rivers need to be crossed. Many roads are not improvement projects but brand new roads as well.
There are also exciting developments on the rail side. One of them is a freight line from the country’s interior to the Carribean region. The new rail project will be over 500 miles long, running from Buenaventura port on the southeast coast to La Felisa. From there, the corridor is planned to connect with the 1,500-mile Central rail network that crosses the middle of the country and then the 400-mile Atlantic rail corridor that reaches the ports on Colombia’s northern coast.
Sea Ports, Water Transportation, and Sustainability
Gustavo Petro, recently elected as the new President of Colombia, intends to improve the connections between rural areas and the rest of the country, so the crops produced there can easily find their way to distribution centers and crops. Key to his plans are new transportation systems that use IT, data, and smart technology components. Railway and water transportation projects have a special focus, as they could reduce Colombia’s carbon footprint.
Colombia’s National Infrastructure Agency (ANI) grants concessions of 25 years to private companies to develop port facilities. Currently, 61 concessions have been provided across Colombia’s eight port areas in the Pacific and Caribbean regions. One of these is the new port facilities being built in the Uraba Gulf region, called Puerto Antioquia, which is scheduled to open in 2025.
Zero-emission Shipping Solution Through Colombia
We plan to play an integral role in improving the Colombian infrastructure with our Puerto International Las Americas (PILA) in Northern Colombia. Our tunnel connecting two new ports in the Atlantic and the Pacific will improve the flow of goods to, from, and within the region, strengthening the region’s economy.
We already have approval from Colombia’s National Infrastructure Agency (ANI) and the Ministry of Transportation to move forward with Pre-Feasibility and conditional approval for Feasibility. We can’t wait to get started.
Northern Colombia is full of untouched nature, and we want to keep it that way, which is why we will use a tunnel to move containers between the Atlantic and the Pacific with zero emissions.