Colombia to extend port concession periods

Transport minister Ángela Orozco said that Colombia's government will seek to extend the duration of port concessions for up to 80 years to promote investments in the sector.

Orozco told daily Portafolio that the proposal is part of the government's 2018-2022 national development plan, which estimated that the country will need nearly 217tn pesos (US$69bn) in the next four years for transport infrastructure.

Currently, port concessions are valid for 20 years, which can be extended for another 20 years at most. Orozco said the 40-year period was "insufficient" to recover investments, although she added that the new limit would count only for greenfield ports.

"We haven't managed greenfield ports here, and these are key because they are a development pole for regions," the minister said.

According to the development agenda planning department DNP unveiled last week, the transport ministry aims to boost efficiency for port concessions by "reviewing the duration of the concessions and the re-negotiation and term expansions, and the generation of a port-landlord model."