Transcaribe gets US$48mn

The Colombian government has signed an agreement to provide 137.9bn pesos (US$48mn) for construction of the Transcaribe mass public transport system for the city of Cartagena, El Universal reported. The government also made a commitment to provide 94.7bn pesos (US$33.8mn) to the district authority over the next nine years for use on Transcaribe. The agreement was signed by finance minister Alberto Carrasquilla Barrera, transport minister Andres Uriel Gallego, director of national planning Santiago Montenegro Trujillo, Cartagena mayor Rodolfo Diaz Wright, and the head of Transcaribe Martha Barrios, according to the newspaper. The first monies will be provided in 2004. The 2004 tranche will be 18.7bn pesos followed by 24.7bn in 2005, 41.6bn in 2006 and 52.9bn in 2007. The Transcaribe system, labeled the "Transmilenio" of Cartagena, will consist of a 14km trunk road with 23 stations from the El Amparo district to the Bocagrande tourist sector. A bidding process for the construction contract will be launched in April 2004 and works should begin before end-June.