Complicated Panorama for Road Works

In Costa Rica, six out of eight banks are opposed to the possibility of lending the $35 million required to finance technical studies for a new highway between San José and San Ramón.

Tuesday, May 8, 2018

Nacion.com reports that "... Since November 29, the Bank of Costa Rica, administrator of the trust for the highway, knocked on the doors of Banco Nacional, BAC San José, Davivienda, Banco Internacional de Costa Rica (BICSA), the Banco Interamericano de Desarrollo (BID) and Instituto Nacional de Seguros (INS) to raise the money. However, those institutions rejected the request for different reasons."

This road project, whose management trust was awarded to the BCR last year, consists of the construction of 60 kilometers in three sections of 1.6, 12.6 and 41 kilometers each, with three, four and two lanes in each direction, respectively. See "Details of the San José - San Ramón highway"

The obstacle that this project now faces is the lack of resources to "... initiate technical, economic and financial studies, manage environmental permits, execute expropriations and relocate settlements. This preinvestment process could take 37 months, according to BCR estimates."

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More on this topic

Green Light for Important Road Works

June 2018

After having faced multiple delays, it has been reported in Costa Rica that in the second half of 2019, the first works to expand the road between San José and San Ramón will begin.

The Minister of Public Works and Transport, Rodolfo Méndez, explained that " ...

Progress on San José - San Ramón Highway Project

October 2017

With the changes to the contract approved by the Comptroller General, Banco de Costa Rica has become the project supervisor of the road expansion project.

"... The main change is that Banco de Costa Rica will be in charge of the Project Management Unit (UAP) and therefore will have to provide the entire administrative team needed to manage the next phases of the route. In addition, it will assume work such as the selection of contractors for different works."

Costa Rica: Details of San José - San Ramon Road

August 2016

The construction project which will be developed through a trust has three sections of 1.6, 12.6 and 41 kilometers each, with three, four and two lanes in each direction, respectively.

The details of the project "Trust for the San Jose-San Ramon Road Corridor and its ring roads", awarded to Banco de Costa Rica, note that the first tranche from the Metropolitan park La Sabana to the the Interchange of the Circumnavigation, there will be three lanes in each direction with external and internal shoulders and dividing rails.

Trust For All Roadworks in Costa Rica

August 2014

The Minister of Public Works and Transport is asking for an amendment to the existing legislation to allow a common trust to be structured to finance all road infrastructure works.

The minister of transport and public works intends for the bill being studied in the assembly, and which would fund the road from San Ramon to San Jose through the figure of trust, to be extended to all types of road works and not only that road, so that a single financing option would be used for the construction of all roads in the future.