Uruguay-New Port facilities.

URUGUAY.

NEW PORT FOR MONTEVIDEO.

Montevideo is the main hub for refrigerated containers in the region, also the fourth largest port in the whole of Latin America.

More than 70%of the volume of Uruguay’s total exports and imports, move through the countries maritime and river transportation system.

The port of Montevideo, will expand its cargo handling systems by building a new multi purpose wharf and deepening the access channel, to allow access of larger vessels into the port.

The new facilities being built on the port of Montevideo, are being financed by a US-dollar loan, from the Inter-American Development Bank of US$50 million initially.

There is also a large trade in containers from Paraguay, that travel down river to the port of Montevideo.

The National Ports Authority, an autonomous agency of the Ministry of Transportation of Uruguay, will carry out the project.

The Inter-American bank loan is for 25 years, with a four year grace period, at an adjustable interest rate.

Local funds to the tune of US$13 million, will match the loan. The work will begin next month on stage one of the project.