Encouraging news from Colombia last week as the regional government of Antioquia reiterated its commitment to building a new commercial port in the Urabá region on the Atlantic coast. Governor Luis Pérez Gutiérrez announced on Friday that his government intends to pursue an agreement on the development of the port, and the communities of the region are expected to vote in favor of the project this Friday.
The agreement will designate 40 hectares of land for the construction of the port, as well as establish a 30-year concession between the National Infrastructure Agency and the Port Society of Bahía Colombia de Urabá. Construction is set to begin on the 30th of November of this year.
The new port, which represents a significant advancement in Colombia’s maritime infrastructure, is projected to have an annual cargo capacity of 6.6 million tons. Situated on the Atlantic coast, the port will provide exporters with easy access to markets in the US and Europe. One of many ongoing infrastructure projects in Colombia, the new port is sure to attract further investment to the developing nation.
This is tremendous news for us at Farmfolio, and we are eagerly awaiting further developments. With the launch of our Valle Verde project in Antioquia, we are poised to take advantage of the many scheduled infrastructure projects which are set to improve transportation and distribution in the region, including the port.
The planned construction of the port represents another step forward for Colombian infrastructure projects, which have seen a significant boost in funding thanks to foreign investment, a booming tourism industry, and the business-friendly government of Iván Duque. With the recent opening of the long-anticipated Tunnel de Oriente, which connects Medellin with its airport and the Valley of San Nicolas, all systems are go for Colombian infrastructural development.
Perhaps the most ambitious infrastructure project currently underway is the Master Plan for Intermodal Transport, the largest infrastructure project in Latin America, which seeks almost $70 billion for far-reaching improvements to Colombia’s road system. The plan will connect Colombia’s secondary and tertiary cities, as well as modernize existing roads in order to further advance the nation’s logistical capabilities. The National Infrastructure Agency plans to invest nearly $100 billion into transportation by 2021, a tenfold increase from its funds in 2012.
Infrastructure projects in Colombia have come a long way, and the new developments on the horizon certainly look promising. Over the last seven years, the Colombian government has put more than half a billion dollars in investment towards improving ports, and this herculean effort seems likely to continue. As Colombia moves forward, we are strategically poised to lead the charge towards prosperity and progress.