Port News

Colombian alternative to the Panama Canal seeks funding

Florida-based Zergratran, a sustainability driven transportation infrastructure company, is seeking to raise $75m in funding as its initial step to build an alternative to the Panama Canal for shipping containers.

Puerto Internacional Las Americas (PILA) is planned to be an underground tunnel that would use Maglev (derived from magnetic levitation) technology to transfer containers in less than 30 minutes between fully automated ports on the Atlantic and Pacific coasts of northern Colombia. This 80-mile “green shipping corridor” would help place the shipping sector on a credible pathway to achieve zero emissions, said the company in a press release. The Maglev and linear induction propulsion-based technology would be entirely electric and non-polluting.

Zergratran’s plan addresses the need for additional marine trade routes and the choke point around the Panama Canal. The technology, already used for high-speed trains, is expected to enable faster, cheaper and more-efficient transport.

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