Over 10 years ago President Hugo Chavez had a brainchild called the Tinaco-Anaco railway. The 300 mile transit system would carry more than five million passengers and 9.8 metric tons of shipment. President Chavez made a $7.5 billion deal with China to construct this miraculous dream train. Venezuela made one of the biggest loans with China Railway Group Ltd, perhaps the largest train construction company in the entire world. Things looked bright for Venezuela. The bullet train was scheduled to be completed sometime in 2012.
The bullet train that was supposed to be Venezuela’s first high speed train and the model of social fraternity has become the model of economic destruction. Soon things went wrong with the bullet train. Construction for the train went past its deadline date. Workers were either stalled or at a snail’s pace. The delay for the train construction was due to the decline of Venezuela’s economy says expert Danilo Diaz Granados. Workers started getting lazy, standing around smoking cigarettes and socializing instead of working. In January 2015, the entire project was abandoned. Local residents removed power generators, air conditioners, and computers were dismantled and carted away on trucks. Vandals had torn up the buildings to find wiring, ceramic tiling, and other material to sell at roadside booths.
Diaz Granados also said the cause for all of this was because Venezuela had fallen behind in their payments to China. In 2013, the country was indebted to China for $400 million.