‘Cable Car’ Sees Boom in South America to Overcome Traffic Congestion

A view of cable cars over a neighborhood in Ecatepec, Mexico, on Aug. 25, 2016. (Mario Vazquez/AFP/Getty Images)
A view of cable cars over a neighborhood in Ecatepec, Mexico, on Aug. 25, 2016. (Mario Vazquez/AFP/Getty Images)
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‘Cable Car’ Sees Boom in South America to Overcome Traffic Congestion

A view of cable cars over a neighborhood in Ecatepec, Mexico, on Aug. 25, 2016. (Mario Vazquez/AFP/Getty Images)
A view of cable cars over a neighborhood in Ecatepec, Mexico, on Aug. 25, 2016. (Mario Vazquez/AFP/Getty Images)

The cable-car soars above Ecatepec, a poor suburb of Mexico City.

The first urban "cable car" system (Mexicable) has transported 1.6 million passengers from the suburb since October 2016 along a five-kilometer road including seven stations.

The entire journey takes only 17 minutes, which is less than half the time spent by a commuter using a public bus or a taxi. The ticket price is 7 pesos (37 cents).

Nancy Romero is so happy. Romero, a Mexicable passenger said: "I can go to work now more quickly and comfortably. Public buses are always stacked with passengers.”

While cable cars are often seen as high-altitude touristic features, or as a ski transport mean in advanced industrial countries, they have become a mass transit vehicle in Latin America.

"Latin America is now a popular area for cable cars in cities," said an official from Doppelmayr Company, the world's largest cable engineering market.

The German news agency noted that the mountainous nature of the Latin American cities makes cable cars a preferred means of transportation in these cities, which suffer from heavy traffic congestion, and the lack of subway lines.

Almost every city in South America with a population of 200,000 or 300,000 people has already asked us for information about cable cars, added the official whose company has set up lines for cable cars in Venezuela, Bolivia, Colombia and Mexico.

Mexicable lines cost over 1.7 billion pesos ($89 million), and were mainly built by the Italian firm LEITNER.

Among the advantages of the Mexicable system is that it is expected to reduce carbon dioxide emissions in the Mexican capital by 10,000 tons a year. Officials also hope it will reduce crime rates targeting public bus passengers.

Officials also believe that "cable cars" will contribute to improving security by facilitating the transfer of citizens to the center of Mexico City, where they can get regular jobs instead of getting involved in criminal acts with gangs; the additional street lights deployed near cable car stations may also help making side streets safer.

For instance, crime rates in Medellin, a Colombian city that was the first in Latin America to implement the "cable car" project in 2004, has declined, although improved security could also be due to increased police presence.

The largest cable car network in Latin America is currently located in the Bolivian capital La Paz, with vehicles carrying up to 125,000 passengers a day.

The Teleferico cable cars network in Bolivia, which is used by nearly 100 million people, was launched in May 2014. Bolivian President Evo Morales opened the fifth line of the planned 10-line network in September.

Sources from the LEITNER Company explain that "cable cars do not need large spaces, and can pass in the air over any obstacle, saving time.”

This Italian company, which led the construction of Mexicable, also built a 3.5 km line in Rio de Janeiro, connecting the Complexo de Ilmão area with a metro station.

This line can carry up to 3,000 passengers per hour, despite that its work was suspended due to financial problems.

Although public transport systems are usually supported by the state, cable cars have become increasingly popular, and experts believe that they can one day recover their operating costs.

The idea worked so well in South America, and has moved to Africa, where it is now being planned for African cities such as Lagos in Nigeria, and Mombasa, Kenya, according to sources in the cable cars sector.



COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
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COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)

Countries agreed at the UN's COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

MILITARY MIGHT

In 2023, governments around the globe spent $6.7 billion a day on military expenditure, according to the Stockholm International Peace Research Institute.

That means the $300 billion annual climate finance target equates to 45 days of global military spending.

BURNING OIL

$300 billion is currently the price tag for all the crude oil used by the world in a little over 40 days, according to Reuters calculations based on global crude oil demand of approximately 100 million barrels/day and end-November Brent crude oil prices.

ELON MUSK

According to Forbes, Elon Musk's net worth stood at $321.7 billion in late November. The world's richest man and owner of social media platform X has co-founded more than half a dozen companies, including electric car maker Tesla and rocket producer SpaceX.

STORM DAMAGE

Hurricane Katrina, one of the most devastating and deadliest cyclones in US history, caused $200 billion in damage alone in 2005.

This year's climate-fueled Hurricane Helene could end up costing up to $250 billion in economic losses and damages in the US, according to estimates by AccuWeather. While preliminary estimates by Morningstar DBRS suggest Hurricane Milton, also supercharged by ocean heat, could cost both the insured and uninsured nearly $100 billion.

BEAUTY BUYS

The global luxury goods market is valued at 363 billion euros ($378 billion) in 2024, according to Bain & Company.

COPPER PLATED

The GDP of Chile - the world's largest copper producing country - stood at $335.5 billion in 2023, according to World Bank data.

GREECE'S BAIL OUT

Euro zone countries and the International Monetary Fund spent some 260 billion euros ($271 billion) between 2010 and 2018 on bailing out Greece - the biggest sovereign bailout in economic history.

BRITISH BONDS

Britain's new government needs to borrow more to fund budget plans. Gilt issuance is expected to rise to 296.9 billion pounds ($372.05 billion) for the current financial year.

TECH TALLY

A 10% share of tech giant Microsoft is worth just over $300 billion, according to LSEG data. Meanwhile the market cap for US oil major Chevron stood at $292 billion.

CRYPTO

The annual climate finance target amounts to 75% of the total value of the global market for crypto currency Ether, the world's second-largest cryptocurrency.

Alternatively, 3 million Bitcoin would cover the annual climate finance target as the world's largest cryptocurrency closes in on the $100,000 mark following a rally fueled by Donald Trump winning the Nov. 5 US presidential election.