The Belgian operator, Katoen Natie has confirmed an investment of approximately US$455 million in the expansion of the Montevideo container terminal, Terminal Cuenca del Plata (TCP).
[s2If is_user_logged_in()]The investment project aims for the maximum expansion of the concession area, including a second container terminal of approximately 220,000m² and a second dock with approximately 700m of quay and a depth of 14m, which are expected to at least double the capacity of the terminal and allow TCP to serve 400m container ships.
The Uruguayan box terminal will have an annual capacity of 2.5m TEU per year, after the completion of the project, while the two piers, which represent more than 1,300m in total, will allow TCP to operate four container ships simultaneously.
Another upgrade, which is included in the expansion project, are new gantry cranes and horizontal transfer equipment, the expansion and modernisation of the truck accesses in the terminal, the repaving of the existing container terminal and investment in new Information Technology systems.
“The agreement is a new stage in the development of TCP and consolidates the strategic position of the Port of Montevideo as a hub port in the region,” said a company statement.
The execution of the project will begin immediately after the agreements of Katoen Natie and the Oriental Republic of Uruguay are endorsed and will generate an increase in sources of work, both direct and indirect.
“This increase in capacity and cargo concentration will improve the efficiency of the operation and reduce costs per container, which will once again put Montevideo in a privileged place on the map of transit and transhipment cargo exchange routes,” added Katoen Natie.
Terminal Cuenca del Plata undertakes to carry out a significant reduction in the main export rates in order to strengthen Uruguay’s foreign trade. After the completion of the investment project, the final reduction is expected to imply an average saving of 30% in the main services to exporters, plus it will increase the days free of permanence in the port of the export containers, going from three to five free days.
“Terminal Cuenca del Plata is already the most efficient container terminal in South America, but with this investment, we definitely position the terminal as an indispensable link in the list of the most important hub ports on the continent. In addition, we make the terminal more attractive for Uruguayan exporters,” explains Vincent Vandecauter, general manager of TCP.
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