The new company was introduced during a press conference in Bogota on July 12.

"With the rapid growth of the Colombian economy and new government support for reopening idle railway lines, we see significant potential for rail freight transportation as a means of reducing transport costs for export products such as coal and petroleum," said Iowa Pacific President Mr Ed Ellis. "We will be working closely with our partners at Holdtrade, Colombian government ministries, and prospective shippers to develop these services as quickly as circumstances permit."