Tuesday 6 June 2023

Electric Train Funding With Marchamo Proposed

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QCOSTARICA – The electric train proposed needs funding, and a bill that will fortify the railway, the Instituto Costarricese de Ferrocarril (INCOFER), means to raise money for the train via an increase in the “marchamo” (vehicle circulation permit) paid early in December.

The increase ranges from 3% to 17%, depending on the fiscal value (value determined by the Ministry of Finance for tax purposes) of the vehicle.

The bill is currently on hold, while the ruling party, Partido Accion Cuidadana (PAC ) legislators attempt to explain what the proposal intends to accomplish and why the funding is feasible, however it still remains a priority for the extraordinary session according to PAC fraction chief Marco Vinicio Redondo.

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The electric train is to begin operation in 2 to 3 years, and would be serving the urban areas of four provinces by the end of 10 years when the project is fully implemented.

The service would extend from Paraiso de Cartago to Alajuela, with feeder routes to Heredia with San Jose the main hub.  All the rails would be new and would allow trains to run both ways at the same time.

According to Finance, as an example, the increase would be ¢8,000 colones per year on a vehicle worth ¢5 million colones, while the increase would be ¢68,000 colones on a vehicle worth ¢15 million.

Article by iNews.co.cr, with editing by the Q,.

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Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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