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Developers propose US$2bn Buenos Aires infra project

Bnamericas Published: Monday, May 12, 2014

Downtown Buenos Aires' transport infrastructure needs "major surgery" according to investors, who have put forward a US$2bn development plan.

The proposal includes the building of a road tunnel and measures to further integrate the city's railway and subway services.

The 2.5km six-lane highway would run under Puerto Madero docks and form the backbone of the project.

It would alleviate traffic in an area through which nearly 1mn people a day commute, said Julio Torcello, president of Grupo Torcello, the Argentine real estate development company behind the plans.

The US$1bn highway would link Illia and Buenos Aires-La Plata highways. Plans include another US$1bn to further integrate metro lines and the Retiro and Constitución train terminals, and the development of office buildings, shops and museums, below a complex named Estación Central Buenos Aires.

The project has been in the pipeline for nearly 15 years, but Torcello thinks that there is now a real possibility that it could be executed.

He claimed that the city's transport infrastructure was at breaking point.

"When we planned this project, it was considered a luxury. Today, it's an absolute need," Torcello told BNamericas.

"It's time to apply major surgery," he added, urging national and local governments to give the project the green light.

Torcello said construction was "simple" and that up to eight different building phases could be carried out simultaneously, which would result in a two-year build time.

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