Sep 20 2013, 6:17pm CDT | by IANS
The $250 million project for this landlocked country, located in central South America,
will be financed by La Paz.
The construction of the railway has been divided into three sections, which were awarded to China's CAMC and China Railway and to Yapilo, which is responsible for the bridges.
Jose Manuel Otero, president of Spanish construction firm Puentes y Calzadas, which leads the Yapilo consortium, signed one of the contracts Thursday in eastern Bolivia with the Andean nation's Public Works Ministry, an official said.
Morales was on hand for the signing ceremony in the eastern town of Montero, Santa Cruz province, one end of the planned railway that will run to Bulo Bulo, a town in the central province of Cochabamba.
The contracts with the Chinese companies will be signed in a few days once the necessary bank documents have been submitted, the president said.
The first and second sections will cost $104 million and $83 million respectively, while the bridges will cost a $47 million, he added
The remaining funds will cover the cost of supervising and inspecting the project, to be completed in two years.
In future, the Montero-Bulo Bulo line will be part of a larger rail network connecting Atlantic and Pacific ports, Morales said, adding that he had discussed that project with Brazilian counterpart Dilma Rousseff.
--Indo-Asia News Service
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