Inco to manage infra concessions

Colombia's government has issued a decree establishing a national concessions institute (to be known as Inco), which will manage railroad, highway and port concessions, state news agency CNE reported Monday. The new organization will identify and plan concession projects, supervising bidding and execution of works and structuring toll and other transportation-related fees. Further, the government published its decree mandating national railroad company Ferrovias' liquidation, officially confirming what BNamericas reported last week. The company has at least two years to fully liquidate, though it must transfer concession programs to Inco in six months. National highway institute Invias and other government transport agencies - except national airport authority Aerocivil - will transfer concession projects to Inco as well, CNE said. The government also published a decree liquidating local roadway fund FNCV over two years, placing its works under Invias. FNCV manages the country's tertiary roads, staying on top of maintenance and emergency repairs. The news reflects President Alvaro Uribe's goal to restructure the transportation sector, aiming to make it more efficient. Government officials could not be reached for comment on the move Monday.