TPE to launch US$150mn Paita port terminal works in mid-Jan

- Tuesday, December 27, 2011

TPE to launch US$150mn Paita port terminal works in mid-Jan

Peru's Paita port concessionaire Terminales Portuarios Euroandinos (TPE) is due to start work in mid-January on the first phase of a project to build a new container terminal, according to national port authority (APN) president Frank Boyle.

The company has submitted all necessary documents for construction to begin. If any delays arise, work will begin by mid-February at the latest, state news agency Andina reported Boyle as saying.

The US$150mn project involves building a 300m berthing area at the port, located in Piura region, as well as a 12ha container yard and dredging to a minimum draft of 13m.

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The first phase of work, to be supervised by APN, is expected to wrap up in 24 months.

"Container handling at Paita is about 150,000 TEUs [a year], and it's experiencing interesting growth," Boyle was quoted as saying.

TPE was awarded a 30-year concession to modernize and operate Paita port in April 2009. The consortium is comprised of Peruvian firms Cosmos and Translei and Portugal's Tertir Terminais, which is part of Portuguese group Mota Engil.