CABEI and El Salvador initiate studies for Pacific Train Development
The studies will be carried out through a US$450,000 non-reimbursable technical cooperation grant recently approved by the Korean Republic within the framework of the CABEI-Korea Single Donor Trust Fund (KTF).
San Salvador, September 20, 2021.- Representatives of the Central American Bank for Economic Integration (CABEI) and the Autonomous Executive Port Commission (CEPA) of the Government of El Salvador announced the start of the study for the development of the cargo and passengers railroad network of El Salvador's Pacific Train project.
Regarding this activity held at the Ministry of Foreign Affairs of El Salvador, CABEI Executive President Dr. Dante Mossi mentioned, "this project will be a flagship for the region, as it will drive the country's economic and commercial transformation, help improve trade flows and the safety of land transportation, enhance connectivity and directly benefit the population when in use. In addition, it will have a positive impact on the environment, as reducing road congestion will reduce greenhouse gas emissions, which will undoubtedly support efforts to mitigate climate change," he added.
CABEI Director for El Salvador, Luis Rodríguez, said, "We are very committed to the transformation of the country and the region through the implementation of major projects. The initiative that begins today will allow for the correct identification of work aspects, such as the use of technologies to be considered and optimal alternatives for an efficient railway network, in addition to capacity building and knowledge transfer".
The Korean consortium SOOSUNG will be in charge of preparing the studies for this project’s development, which will analyze the demand for cargo and passengers rail transportation within the country, and will provide recommendations for technologies and alternatives for a network and proposed rail systems to connect priority areas within the country.
The study will provide economic-financial, legal and regulatory analyses that will allow the structuring of a Public-Private Partnership, the preparation of management and socio-environmental assessment plans and the strengthening of the institutional capacity of the entities in charge of the country's railway system, as well as the transfer of knowledge from the South Korean railway sector.