Venezuela receives $100 million for construction of Metro Los Teques

With an operation of $100 million, the CXIV Board Meeting of the Andean Development Corporation (CAF) approved new financing for the Metro Los Teques construction project, which the Venezuelan government is executing through the Miranda state government, Guaicaipuro Municipality and C.A. Metro de Caracas.

CAF Executive President Enrique García said that the financial operation was in line with the development of efficient mass transport systems to integrate communities and generate social benefits, characterized by the use of clean technology.

García said that the CAF had signed a first financing agreement for this project for $100 million with the national government in October 2001.

The funds are to be used for the civil works, supplemented by the purchase of the equipment. The Las Adjuntas-Los Teques section is scheduled to start operations in 2005. The system will be operated by C.A. Metro de Caracas (CAMETRO).

The executing agency of the CAF financing is Compañía Anónima C.A. Metro Los Teques. The maximum duration of the operation is ten years with a two-year grace period.

First interurban line

The Metro de Los Teques construction project - the first interurban line linked to the Caracas metro system - will connect Caracas through the existing station of Las Adjuntas on Line 2 with the city of Los Teques (El Tambor station).

At the start of its operations, the new transport system will move around 20,000 passengers a day, with a planned target of 200,000 by 2020. The new system is expected to improve conditions on the section of the Pan-American Highway that connects Los Teques with Caracas by diverting a large number of passengers, especially the low-income sectors who use public transport.

The system should reduce average travel times from 75 to 33 minutes and cut transport costs between the two urban centers.