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Colombian ports commit $120m for development
01 Nov 2006
Development projects put forward by Colombia's three leading Caribbean ports will absorb investment of $120m over the next few years.
Buenaventura recently had to suspend the discharge of international cargo at its installations given the total saturation of its facilities, pressing the need for fast investment.
This contrasts with the situation at Cartagena, Santa Marta and Barranquilla. At the latter, installations are operating at 70% of total capacity, which is a similar situation to both Cartagena and Santa Marta, respectively specialising in containers and general cargo.
With Cartagena expecting throughput to rise by 25% in 2006,plans have been put forward to invest $50m in expanding facilities. Meanwhile, Santa Marta is registering growth of 15%, some of which has been generated by ships displaced from Buenaventura.
Barranquilla and Santa Marta expect to invest $35m each in the next few years to cope with growing demand, although the funding is dependent on an extension being granted to their operating concession.
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