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China seen as option to finance major bi-oceanic railway initiative (Regional)
2010-08-23
Chinese support could help revive Uruguay's dream of being part of a bi-oceanic railway corridor, an official from Uruguay's foreign ministry told BNamericas.

 

Vice president and former finance minister, Danilo Astori, will travel to China next week to promote infrastructure investment initiatives, especially railways, the official said.

 

Astori will seek the support of China's development bank to help finance the rehabilitation and expansion of Uruguay's railway network.

 

The network would not only benefit Uruguay's cargo transport logistics, but also the Mercosur bloc's trade competitiveness, because the network would also connect to Brazil through multimodal stations, and to Argentina via a rail bridge.

 

The Uruguay-Argentina rail bridge initiative would require an estimated US$300mn investment, connecting Uruguayan department Colonia to Argentine province Entre Rios, becoming part of the bi-oceanic railway corridor project designed to connect the coast of Argentina's River Plate to Chile's Pacific ports.

 

Astori will be accompanied by a delegation of about 60 private sector representatives who will promote their products and seek possible joint ventures to increase trade.


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