Terminal Cuenca del Plata investing $600 million Montevideo port expansion
Terminal Cuenca del Plata (TCP) has started $600 million expansion works at the Port of Montevideo with dredging of the first phase, according to Seatrade Maritime.
The work will be completed within a two-year timeframe, said Fernando Correa, Manager of Institutional Relations at Terminal Cuenca del Plata.
The expansion is aimed at turning Montevideo into a regional hub, according to Juan Curbelo, the President of the National Ports Administration (ANP) of Uruguay.
“In 2022, we surpassed the historic milestone of one million teu, and this year 2023, despite the decrease in exports, the port’s numbers continue to rise, which is due to an aggressive port policy, excellent services provided by the Port of Montevideo, and that 60% of all containerised cargo transits through and is transhipped at the Port of Montevideo,” he said.
“The LUX service [which arrived in Uruguay with a call at TCP] started a weekly operation, based on an agreement between Cosco, OOCL, and ONE, connecting northern Europe and the Mediterranean with the east coast of South America. This achieves better connectivity,” he added.
