Argentina's government has pledged to spend more than $90 million over the next few months to upgrade the main ports of Buenos Aires.
A large part of this investment will go into much needed dredging of port access channels.
Reports say that the province of Buenos Aires will fork out $33 million for the project while $59 million will be borrowed from the Fondo de Financiacion de Ia Cuenca del Plata (Fonplata).
Fonplata is a financial entity funded by the South American governments of Brazil, Bolivia, Paraguay, Uruguay and Argentina.
Buenos Aires' Ministry of Production will pay $33 million to three ports managed directly by the province, Dock Sud, San Nicolas and Coronet Rosales, and the management consortium that operates the ports of Quequen, Mar de Plata, Bahia Blanca, La Plata and San Pedro.
The ports of Buenos Aires handle a third of Argentina's total cargo throughput.
Currently, the main concern stakeholders have for Argentinian ports is the cost of dredging, which is vital but too expensive for individual ports to afford from their own coffers.
Port operators are frustrated that the limited depths of port channels restrict the size of vessels that can be accommodated, thus impairing future trade growth potential.
A large part of this investment will go into much needed dredging of port access channels.
Reports say that the province of Buenos Aires will fork out $33 million for the project while $59 million will be borrowed from the Fondo de Financiacion de Ia Cuenca del Plata (Fonplata).
Fonplata is a financial entity funded by the South American governments of Brazil, Bolivia, Paraguay, Uruguay and Argentina.
Buenos Aires' Ministry of Production will pay $33 million to three ports managed directly by the province, Dock Sud, San Nicolas and Coronet Rosales, and the management consortium that operates the ports of Quequen, Mar de Plata, Bahia Blanca, La Plata and San Pedro.
The ports of Buenos Aires handle a third of Argentina's total cargo throughput.
Currently, the main concern stakeholders have for Argentinian ports is the cost of dredging, which is vital but too expensive for individual ports to afford from their own coffers.
Port operators are frustrated that the limited depths of port channels restrict the size of vessels that can be accommodated, thus impairing future trade growth potential.