Venezuela: Ferrocar seeks funding to complete the Caracas - Tuy.

South American Business Information | June 28, 1999 | Copyright

The Venezuelan state owned Ferrocar (Ferrocarriles del Estado) has devised a scheme to raise funds for the completion of the Caracas - Tuy railway stretch, that involves funding from foreign countries and companies. Ferrocar has exceeded the initial budget for the railway stretch construction (US$250mil for construction, US$150mil for railraod equipment) and spent so far US$500mil in construction works, needing additional US$400mil to complete the stretch, while it has in its cash flow only US$120mil for further investments. The overall reviewed budget is around US$1.2bil, ...

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