Photo: Infrastructure in Latin America
Chile needs to invest $58.12 million in infrastructure between 2014 and 2018 to maintain its current level of competitiveness, the Chilean Construction Chamber said Wednesday.
That figure appears in the “2014 Critical Infrastructure for Development Report,” which proposes that the government cover 54 percent of that total and the private sector the remaining 46 percent.
The report calls for annual infrastructure investment in Chile equivalent to roughly 5 percent of the nation’s gross domestic product.
“To achieve a level of infrastructure that is commensurate with the country’s growth level and people’s needs, this must be state policy,” the chamber’s president, Daniel Hurtado, said in presenting the report.
“That’s the only way to have long-term planning, which normally cannot be addressed by governments since they must grapple with urgent day-to-day matters,” he added.
The report says $21.77 million must be invested in urban roads and transport, $11.48 million in energy; $10.35 million in inter-urban highways; $3.6 million in hospital infrastructure; $2.61 million in railroads; and $2.65 million in ports, among other outlays, over the next five years.
A national infrastructure agency needs to be created to anticipate scenarios, establish priorities, ensure proper financing, and bring plans to fruition, Hurtado said.