Pronacom: US$340mn/y needed for infrastructure

Guatemala requires 2.6bn quetzales (US$340mn) in annual infrastructure investment to maintain current growth levels, newspaper Prensa Libre reported.

The estimate comes from the government's 2005-15 national competitiveness program (Pronacom), which projects investing at least US$700mn in the first two years of president-elect Álvaro Colom's term to continue with modernization works at the La Aurora international airport, expand highways, improve ports and other works.

The new administration - elected in September 2007 and to take office mid-January - will have to continue investing in infrastructure to reduce the gap between the country's rich and poor, Pronacrom representative Juan Carlos Paiz was quoted as saying.

One project Pronacrom considers essential is a metropolitan beltway to accommodate the 65,000 vehicles that enter the capital every day, according to the report. No investment figures were given.

The majority of Guatemala's roads are not paved, with 59% of the network being rural roads, of which only 42% are paved, the paper reported.

Pronacrom is a strategic plan created by Guatemala's prior administration to foster development of its tourist, export and energy sectors.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: January 7, 2008