- a)To strengthen the country's economy through the administration of a modern railway transportation system for passenger and freight service throughout the national territory. Additionally, it may provide services related to the aforementioned system and develop other investments and infrastructure works on real estate it owns, or, by prior agreement between the parties, on that of other public institutions, municipal service companies, rural electrification cooperatives and their consortia, regulated in Law No. 8345, Participation of Rural Electrification Cooperatives and Municipal Public Service Companies in National Development, of February 26, 2003, and its amendments, necessary for the construction, operation and maintenance of the railway system. Likewise, it may develop other investments or works on real estate it owns that generate resources to finance its railway transportation projects, as long as said activities do not affect the provision of the transportation services under its charge.
(Thus reformed the preceding subparagraph by Article 1 of Law No. 9366 of June 28, 2016, "Strengthening of the Costa Rican Railroad Institute (INCOFER) and Promotion of the Interurban Electric Train of the Greater Metropolitan Area") b) To rehabilitate, structure, and modernize, both in terms of tracks, facilities and rolling stock, as well as administration and service provision in general, the current national railroads of the Atlantic and the Electric to the Pacific, in order to integrate them into a national interoceanic railroad for the provision of service.
- c)To study, execute and administer any new railway network that may be integrated into the current ones, in order to enable production zones of the country. The studies shall also include the possibility of carrying out a Central American railway interconnection.
ch) To electrify, reconstruct, rectify and extend its entire existing railway network.
(Thus reformed the preceding subparagraph by Article 1 of Law No. 9366 of June 28, 2016, "Strengthening of the Costa Rican Railroad Institute (INCOFER) and Promotion of the Electric Interurban Train of the Greater Metropolitan Area") For these purposes, the Institute is authorized to negotiate, contract and execute, autonomously, internal and external medium- and long-term indebtedness up to a maximum level of indebtedness of forty percent (40%) in relation to its total assets, as well as to constitute liens and, in any legal form, obtain national or foreign resources. The indebtedness shall be calculated based on the consolidated total value of the Institute's total assets as of December 31 of the previous year; short-term liabilities shall be excluded from the calculation. Changes in the total liabilities of the Institute, as a result of variations in exchange rates, shall not be considered for the purposes of measuring the net variation in total liabilities, for calculating the level of indebtedness regulated in this article. The Institute must have a sufficient accounting record, which it must periodically update, on the institutional assets, or other suitable mechanisms to accurately ensure the value of said assets.
(Thus reformed the preceding paragraph by Article 1 of Law No. 9366 of June 28, 2016 "Strengthening of the Costa Rican Railroad Institute (INCOFER) and Promotion of the Interurban Electric Train of the Greater Metropolitan Area") If the required indebtedness exceeds the percentage indicated in the preceding paragraph, the approval of the Legislative Assembly must be obtained.
(Thus reformed the preceding paragraph by Article 1 of Law No. 9366 of June 28, 2016, "Strengthening of the Costa Rican Railroad Institute (INCOFER) and Promotion of the Interurban Electric Train of the Greater Metropolitan Area")
Duties and Powers