The Inter-American Development Bank (IDB) approved a loan for up to USD 20 million for Argentina with the purpose of financing the Paso de Agua Negra International Tunnel Program (PETAN, for its acronym in Spanish).
This Program shall be executed together with Chile and it costs USD 40 million in total. Its objective is to contribute to the construction of the International Tunnel Paso de Agua Negra, which will improve the border integration between Argentina and Chile. In addition, it will widen the access of the Region to international markets through the bioceanic corridor Coquimbo – San Juan – Porto Alegre.
Within said framework, the Program consists of three elements: the support to cooperation activities for the elaboration of the Project, the support to specific activities for authorities and public organizations and the design of the final engineering.
In the first place, the support to cooperation activities for the elaboration of the Project includes the financing and hiring of a consulting agency for the structuring, legal analysis and technical management of the Paso de Agua Negra International Tunnel Project. It also comprises the activities related to the prequalification process of contracting companies, the preparation of tender documents and the evaluation of offers. Likewise, the Program will finance expenses related to the strengthening and technical support for the implementation of the Binational Entity of Agua Negra Tunnel (EBITAN, for its acronym in Spanish).
The second element, the support to specific activities for authorities and public organizations includes hiring legal, technical and institutional strengthening assistance. Its objective is to strengthen the technical auditing capacity for the design and execution of the works and to develop training programs in hiring and carrying out studies and international works.
In the third place, the design of the final engineering also includes the relevant environmental impact, geological, geotechnical and hydrogeological studies.
The construction of the Tunnel shall be financed by the Inter-American Development Bank (IDB) that agreed in April 2016 for an investment of USD 1.6 billion. Likewise, the direct influence area of the Bioceanic Corridor Porto Alegre – Coquimbo, where this project takes place, would amount to a total of approximately USD 252 billion of regional GDP, among Argentina, Chile and Brazil.