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  HOME | Uruguay

Development Bank Notes Uruguay’s Enthusiasm for Bringing Back the Railroad

MONTEVIDEO – The CAF-Development Bank of Latin America spoke on Tuesday about Uruguay’s enthusiasm for bringing back the railroad and developing freight shipments by rail.

That was the observation of the CAF representative in Uruguay, German Rios, at the inauguration of four locomotives that were restored at the workshop of the Uruguay State Railroad Administration (AFE) with funding from the bank.

“It’s very interesting when you’re investing in a project like the Development Bank is doing and the first thing you see is progress,” Rios said, adding that he was surprised by the improvement made by the AFE workshops since CAF visited them for the first time several years ago.

He also said that Uruguay is so focused on “competitiveness and productivity” that he was sure would it would pay off in the coming years with the development of a truly efficient cargo shipping company.

In that regard, he pointed to the importance of creating the Railroad Logistics Service (Self), which has 51 percent AFE capital and 49 percent from the National Development Corporation (CND), since it will have a great impact “on the equation of logistics and competitiveness in Uruguay.”

CAF also contributed to the Self project with $25 million that has been used to improve the company’s development and its installations.

Though the CAF-Development Bank of Latin America representative acknowledged that not much money has yet been invested in the project, he is pleased to see “there are plans” that will have the financial backing of the bank and also technical assistance, training and other tools that are necessary to get the State Railroad Administration’s service up and running.

“This kind of transport is essential for Uruguay and we’re going to keep supporting it with the same enthusiasm with which the country is developing it,” he said.

 

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