Terminal Cuenca de La Plata (TCP) and Nelsury is expanding its container operation at Uruguay's capital Montevideo following a loan of US$41.6 million from the European Investment Bank (EIB), according to Clarkson's Dredging News Online.
Last week's finance contract was signed in Antwerp by EIB President Philippe Maystadt and Ferdinand Huts, chairman of the Katoen Natie, the principal storage, packaging, distribution, forwarding and transport company involved.
The project aims to position Montevideo as main hub for container transshipments. The new facilities will include reclamation of 11.5 hectares, a 350-metre extension of the quay and paving and drainage for the stacking yard to be ready by last half of 2009.
The EIB investment highlights the EU's presence in Latin America and its expectation that the port expansion will result in economic regeneration of the region as a whole.
Last week's finance contract was signed in Antwerp by EIB President Philippe Maystadt and Ferdinand Huts, chairman of the Katoen Natie, the principal storage, packaging, distribution, forwarding and transport company involved.
The project aims to position Montevideo as main hub for container transshipments. The new facilities will include reclamation of 11.5 hectares, a 350-metre extension of the quay and paving and drainage for the stacking yard to be ready by last half of 2009.
The EIB investment highlights the EU's presence in Latin America and its expectation that the port expansion will result in economic regeneration of the region as a whole.