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Chile will need to make heavy investments of close to US$26.3bn in infrastructure logistics until 2025 if it wants to avoid facing a deficit in the sector, according to a report from national construction chamber CChC.
Based on the report, entitled "critical infrastructure for development", resources should be focused on road infrastructure in interurban areas, airports and ports, or the gap could have a serious impact on the country's competitiveness.
"We need large investments to close the gap and reach 2025 in better conditions than those ones we face currently," Gloria Hutt from Quiz Consultores, which participated in preparing the report, was quoted as saying by Diario Financiero.
Hutt said that one of the critical points is the connection via highways. Based on data acquired for the report, this is the sector that requires most investments, with some US$20.2bn needed by 2025. The report states that some US$14bn should go towards non-concession highway works.
"The area with the most deficits in terms of the quantity of investments required is interurban connections; both concession and non-concession works. Non-concession highways need significant investments to increase the standard to basic levels of quality in terms of traffic and security," explained Hutt, who was deputy minister of transport under the previous government.
For the former deputy minister, public funds will not be enough to cover the US$26bn needed, so the proposed infrastructure fund could be a way to help provide the money.
"If the infrastructure fund is created with enough incentives so that the private sector invests, and with good support, especially if it is accompanied by good project proposals, it could have a crucial role," said Hutt.
The creation of the infrastructure fund is expected to be voted on in the senate in November.
CChC's full report can be found here in Spanish.