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Slim mulls $857 million Colombian river project

Wednesday, October 19, 2016


Two companies connected to Mexican billionaire Carlos Slim have declared an interest in taking over a majority stake in Colombia's $857 million effort to make the Magdalena River navigable, the Colombian government said.

The river project is set to increase cargo transport on the river to some 10 million tonnes by 2029, in a bid to reduce freight costs and aid exports by commodities producers and agricultural companies.

Source: Reuters