5 Colombian cities present investment projects

The mayors of Medellín, Bucaramanga, Santiago de Cali, Cartagena de Indias and Barranquilla presented major projects to foreign investors at the Colombia Investment Summit.

MEDELLÍN: LIGHT RAIL AND SOFTWARE

The biggest infrastructure project mayor Daniel Quintero presented was the 3.5tn-peso (US$912mn), 13.5km light rail along 80 avenue (pictured), which will serve 17 stations.

The city recently secured financing from the national government, and Quintero said the investment was “a counter-cyclical measure when we need it the most.”

Medellín also wants to attract IT investments under its 1tn-peso Software Valley program.

Quintero said the city plans to build 21 digital centers that will create “innovation micro-ecosystems.” 

BARRANQUILLA: RENEWABLE ENERGY

Mayor Jaime Pumarejo said his administration is seeking partners to develop photovoltaic and wind farm projects. A recently established power utility will launch the first auction under this plan within 15 days.

The first step involves generating at least 40MW to supply the city’s public buildings and another firm will then increase generation capacity to sell electricity to the rest of the country.

Last month, the Energía de la Costa consortium, comprising Empresa de Energía de Pereira and Latin American Capital, took over the operation of Barranquilla’s electricity system. Pumarejo said the consortium will invest 1tn pesos in two years to improve the local network.

SANTIAGO DE CALI: WATER CONSERVATION

During his presentation, mayor Jorge Ospina highlighted environmental issues. His administration seeks to start “a very important dialogue with everyone that can help us preserve water for future generations.”

In this regard, the capital of Valle del Cauca department plans to invest US$1bn over four years in water network improvements, preservation efforts and identification of water sources.

Ospina also said the city has allocated US$80mn for 'orange economy' initiatives, which are focused on creative activities.

CARTAGENA DE INDIAS: SPURRING THE ECONOMY

The city’s short-term focus is building a 130bn-peso coastal road near La Virgen marsh to “reactivate the economy in the city’s most vulnerable neighborhoods,” mayor William Dau said.

He added that Cartagena is pursuing three major climate change mitigation projects, involving coastal defenses, rain drainages, and a new central administrative building powered with renewable energies.

Dau also promoted the city’s port connectivity to the Caribbean coast and Magdalena River and assured investors that processes will comply with the highest transparency standards.

BUCARAMANGA: SMART CITY

The capital of Santander department aims to finish installing a 45bn-peso smart illumination system and 200km of fiber optics this year. It wants to become Colombia’s first city with universal connectivity.

Investments will move toward what mayor Juan Carlos Cárdenas called “smart city” projects, highlighting the high number of university students as a potential boon for investors.

Other projects Cárdenas mentioned include a 1tn-peso wastewater treatment plant and a new 7km four-lane road for 100bn pesos.