Colombian officials are considering investing $60 billion to make Cartagena's port capable of handling larger ships that pass through the expanded Panama Canal.
Colombia’s Minister of Transportation, German Cardona, announced major infrastructure projects to develop trade routes, reported local media Tuesday.
Cardona specifically mentioned completing the Varadero Canal, which would allow Cartagena Port to service larger ships and make it more compatible with the Panama Canal.
Critics have noted Varadero Canal’s $60 billion estimated cost is far greater than the $6 billion estimated for the Panama Canal expansion project – which Cartagena Canal would work with. Cardona invited private industry to finance the project.