2005News

Go ahead for Metro

The government plans to invest between US$50 and US$100 million in the construction of the Santo Domingo Metro over the next year, according to Presidential Technical Secretary Temistocles Montas who was speaking in the presence of Customs Director Miguel Cocco and Tax Department Director Juan Hernandez. The first line of the Metro will begin to be built next week between Villa Mella and Centro de los Heroes. According to a report in Hoy, Montas explained that this year’s budget had allocated RD$700 million to exploratory studies for this project. Next year’s budget, which will be submitted to Congress during the second half of November, allocates some US$100 million to the Metro, though he explains it could end up being less. Montas said that if the project costs more it would obviously need additional financing. He understands that the tender process is being developed and in the process, companies wanting to bid must include financing options for the project.