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Government expects USD 3,000 million in private investment

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Pablo Cevallos, Secretary of Public-Private Investments, is working to achieve private investment in eight initial Government projects, all of them road infrastructure.

The Government hopes to make a private investment of USD 3,000 million in eight infrastructure projects.

Pablo Cevallos, Secretary of Public-Private Investments, manages a portfolio of eight initial projects, all road infrastructure, with which the Government hopes to generate an investment of USD 3,000 million and create 60 thousand jobs.

Why will private investment take place with this Government?

Mainly because the function of the Secretariat changed with the Economic Efficiency Law, which was the first urgent economic project of President Daniel Noboa; The previous secretary only had the possibility of promoting investments, today there is the possibility of structuring and compete for projects.

Is that change enough to attract investment?

In reality, the changes are multiple and significant, the first is that we have a law that regulates public-private alliances; secondly, now the secretariat is dedicated exclusively to generating the conditions for these projects; Another difference is that we have the support of multilateral bankingl for structuring processes.

Which multilaterals will participate?

We have the quality seals of international structurers and prestigious international organizations such as the Inter-American Development Bank, the Andean Development Corporation and the World Bank.

What do you plan to achieve in the short time you have left in government?

Indeed, we have a short time As a Government, but our duty is not only to look at the political times, we have to ensure that the best projects are executed and that they are sustainable in the long term.

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What progress have they made since the law was approved?

Although we are aware that we must show results, because the population is waiting for these projects, we know that many of these must be planned with international structurers, with a view to being executed in the medium and long term, however, we already have, in three months after the law was issued, a initial project portfolio.

How much investment will come with these projects?

An investment of USD 3,000 million is estimated, which will generate 60 thousand jobs, both direct and indirect.

When will they start running?

They will be implemented progressively, we don’t want to sell smokenor false expectations, we are doing responsible work to begin structuring the projects and, gradually, we will obtain results.

Are there real interested parties?

We have met with the structurers of two projects and they have presented us with the first results, which are very flattering. We are going to create a portfolio of projects, but, without a doubt, we are going to concentrate on the priority ones, which should have been executed a long time ago. We have these two advanced projects.

What are the initial projects?

Route Blanket – Quevedo, which is going to be rebuilt and expanded in some sections; and the road Pifo – And from Baezawhich is the connection between Quito and the Oriente, which also requires sections of expansion, reconstruction and maintenance.

How many projects will be proposed in total?

We will create the Public Registry of Public-Private Partnership Projects where, complying with the processes, we will incorporate a first portfolio of projects, which there are eightbut, progressively we will incorporate others.

What are the eight projects?

One of them is the Guayaquil South Viaduct, which the President of the Republic has asked us to give priority to, due to the economic impact it has on the entire south-central region of the country and because it is the one with the highest investment, with USD 750 million. In addition, we have the Manta – Quevedo roads; Pifo – And Baeza; Montecristi – La Cadena; Bahía – Pedernales – Cojimíes; Loja – Catamayo; Ambato – Baños – Puyo and Puerto de Esmeraldas.

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What projects will be proposed in Azuay?

There are several projects for Azuaybut first we are defining with the Ministry of Transportation and Public Works the management models that we are going to apply for each of the roads, because there are some roads that require urgent intervention, which are being done with the State budget, but there are other projects that will be made by private investment, that will be defined during the month of April.

Which ones are under analysis?

We are analyzing the Cuenca – Molleturo – The Splice; also the Cuenca – Girón – Pasaje; the southern access to Cuenca. It is a set of ways that we will address comprehensively to define the best management models.

Are they going to hand over the competition to local governments?

It is being evaluated, we have received the technical information from the Prefecture of Azuay and the Mayor’s Office of Cuenca, we are processing it to make decisions.

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