The infrastructure panorama in Colombia during 2025 is marked by an important activity in all its stages, from structuring to execution. Great projects such as the first line of the Bogotá Metro, the Light Metro of Medellín and several of the 5G trunks, such as the Troncals of Magdalena, the road mesh of Cauca and the Valle del Cauca, continue its development and are today key referents that will mark the future of new initiatives. The success of these works is decisive, not only for their social and economic impact, but because they generate signs of trust for national and international investors and financiers.
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However, two factors have negatively affecting their progress, as determined by the Fima of Lawyers CMS Rodriguez-Azuero in their new report. The first is the decisions of environmental authorities, that have caused delays in projects such as Regiotram of the West and the Northern Access, Bucaramanga – Pamplona roads, among others.
They ensure that this shows the need to manage regulatory risks from the structuring stage. The second has to do with the challenges of governance and availability of resources in co -financed projects, Those in which national and regional resources are combined, and that could call into question the financial viability of future works.
At the same time, a new series of projects is in the selection phase, including the Estanquillo – Popayán road, Café Airport, the Dorado Max and the Cartagena Airport Citadel. Regional initiatives such as the wastewater treatment plant (PTAR) Canoas and the second line of the Bogotá Metro, which are part of key processes for urban development and the modernization of infrastructure in different regions of the country. Nevertheless, The lack of definition and extension in processing times have begun to generate uncertainty in the market.
“In these cases, the time factor begins to erode the confidence of investors and financativeexplained Carlos Sánchez, partner of CMS Rodríguez-Azuero.
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They are also ongoing projects in structuring phase, many of them of social infrastructure: hospitals, colleges and transport networks such as the Chia -Nosquera – Gardedot concession, which is currently being structured by the International Financial Corporation (IFC) and by the Institute of Infrastructure and Concessions of Cundinamarca (ICCU). In this front, the active role of the regions stands out, which, with the accompaniment of the National Infrastructure Agency (ANI) and the National Development Financial (FDN), They are consolidating new proposals to respond to local needs with long -term vision.
In terms of financing, the Public-Private Alliance Model (app) and concessions continues to lead the execution of large works, especially for its ability to mobilize investment and transfer risks to the private sector. Nevertheless, The Public Resources Finance Contract continues to be the most used mechanism, especially in smaller -scale projects.
“The importance of these works for the country is undeniable. Sometimes they function as a countercyclical instrument, stimulating the economy in periods of low private investment, but they also turn out to be a catalyst for regional and national development. Infrastructure allows connection between companies and homes of the country and that allows the development of multiple economic dynamics that generate growth in internal consumption and the ability to produce and sell resources abroad,” Sánchez highlighted.
But there are challenges that cannot be overlooked. The volatility of global financial markets has made the resources available for infrastructure more limited and expensive. To this is added the need to conserve the confidence of international investors, something that the country has managed to build in the last two decades, but, they point out that It can be quickly lost if institutional stability, compliance with contracts and a shared vision between levels of government is not guaranteed. Finally, there is the challenge of planning: thinking in the long term, with solidly structured projects from the beginning, will be key for Colombia to continue advancing in its territorial and economic transformation.
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Corficolombiana participates in infrastructure projects in Colombia.
In relation to the projects of the mass transport system, the first line of the Bogotá Metro has shown significant advances in its schedule, with ongoing civil works and the arrival of specialized equipment for underground works. This project, considered one of the most ambitious in the recent history of the capital, has attracted the attention of international consortiums and multilateral entities. For its part, Medellín’s light subway has overcome technical and financial obstacles, although it still faces challenges related to the definitive closure of the financial scheme, they say.
On the other hand, they mention that road projects under the 5G program have also maintained an active agenda. The road mesh of Valle del Cauca has made progress in its preconstruction phase, including processes of property acquisition and social management. The Magdalena trunk advances in its initial sections with maintenance and rehabilitation interventions, while in the road mesh of Cauca there have been advances in detail engineering and contractual processes. These developments have been accompanied by contractual and social surveillance processes, led by the ANI and Citizen Veedurías.
In contrast, projects such as North Access and the Bucaramanga – Pamplona route have faced delays derived from environmental processes. The decisions of environmental authorities have demanded adjustments in the schedules and redesign in several sections, which has impacted the execution and flow of resources. The case of Regiotram of the West has also been representative in this regard, facing obstacles in obtaining environmental licenses that have delayed the delivery of the key stages of the project.
Among the initiatives in the selection phase is El Dorado Max, a strategic expansion of the main airport of the country, aimed at responding to the growth of national and international air traffic. The Cartagena Airport City has been raised as an integral solution for air transport of the Caribbean region, although it still does not have a clear definition of financial model or definitive schedule. Café Airport, on the coffee axis, is still in technical and financial review, after several reactivation attempts in previous years.
Despite this dynamism, actors in the sector have warned about the risks involved in delay in decision making. “There are processes that have three, four and up to five years without resolving. This not only increases costs, but generates wear in technical teams and a loss of interest in some cases. Maintaining the interest of the private sector requires minimum conditions of legal, institutional and financial certainty,” Sánchez said.
In turn, the market expects clearer definitions by the government around the sector roadmap. Institutional signals, both from the Ministry of Transportation and from the National Planning Department, are key for private agents to adjust their expectations. “The key is coordination. Without an articulated work between national government, territorial entities and private sector, projects are not only delayed, but also lose their strategic sense,” The partner of CMS Rodríguez-Azuero pointed out.
