US$ 1.9 BILLION INVESTMENT IN ROAD WORKS BETWEEN 2022 and 2023
Minister Falero: "Our goal is to increase public works to the extent that UPM reduces"
For this year, the government plans to invest almost US$900 million in road works throughout the country, while by the end of 2023 it is expected to reach US$1,000 million. In addition, the Ministry of Transport and Public Works will put out a tender to install 100 radars on national routes at those points identified as the most dangerous in terms of road safety.
Regarding the CREMA system, the Minister clarified that “it is similar to public-private participation but not the same. They have a different feature. PPPs are valid but very expensive to finance. It is obliged to execute the work in two years and the payment in up to seven. That reduces financing costs, which are very high. The competition in the call for bids is validated with what has been the offer in bids. There is expectation and there is eagerness to build new routes that will change the map of the country's road network."
