Chile ports to receive US$700mn boost

By
Monday, September 22, 2014

The Chilean government and concessionaires plan to invest US$697mn to expand and revamp 10 ports, El Mercurio newspaper reported.

Works will allow ports to receive larger vessels and involve the expansion of storage facilities. The government will invest US$141mn and private concessionaires will finance the remaining US$556mn, the article said.

Start your 15 day free trial now!

cta-arrow

Already a subscriber? Please, login

San Antonio, Chile's largest port, will receive US$212mn, neighbor Valparaíso, the second biggest terminal, US$197mn and northern Iquique port US$180mn, according to El Mercurio.

Together, the three ports will get 85% of total investment. Arica, Antofagasta, Coquimbo, Talcahuano, Puerto Montt, Chacabuco and Austral ports will together account for the remainder.

Traffic at San Antonio rose 15.1% to 1.23mn TEUs in 2013, the biggest increase in container traffic in Latin America, according to BNamericas Infra, Water & Waste Stats Report.

Chile has plans to develop a US$3bn large-scale port somewhere between Valparaíso and San Antonio, which would triple the area capacity by 2020.

BNamericas will host its 5th South America Infrastructure Summit in Colombia on October 22-23.