The expansion works of the Cuenca del Plata Terminal (TCP) Port of Montevideo they continue with the wind in their sails and from the National Port Administration (ANP) assured that they have already begun drilling and blasting rock from the seabed.
During the expansion of the port, the works managed to reclaim a total of 28 hectares from the sea, while by 2025 it is expected that another 23 hectares will have been reclaimed through construction works. dredging and fillings, which would reach a total of 51 acres reclaimed from the Bay of Montevideo.
Meanwhile, the ANP informed the port community that the expansion of the Specialized Container Terminal will begin a stage of drilling and blasting of rock from the seabed within the framework of the expansion works. This measure will involve a total of 15 hours of drilling per day. However, they assured that the port’s other activities will not be affected and that circulation and operations will continue normally.
IDB help
He Inter-American Development Bank (IDB) announced earlier this year an investment of $103 million to expand the Port of Montevideo and promote the foreign trade of Uruguay.
This is financing Cuenca del Plata Terminal (TCP) through IDB Invest, which also includes the mobilization of resources for 46 million dollars from the BBVA for the design, construction and operation of the expansion of the Port of Montevideo.
Likewise, and as the international organization officially announced through its website, this operation will be complemented with a ease of financing granted by the export credit agency of Belgium, Credendo, to commercial banks. The approximate additional amount will be 340 million dollars.
In this way, the port expansion project will include a total estimated investment more than 500 million dollars. It will allow more than doubling the current international cargo volume of the main Uruguayan port, as well as improving the efficiency of the most important container terminal in the country.
According to the IDB, this initiative will boost the Uruguayan economy, “improving competitiveness of foreign trade, generating quality employment and positioning Uruguay as a regional logistics player.”
What does the expansion project contemplate?
In the statement, the IDB also detailed what, in general terms, will be the tasks to be carried out in TCP. Among them, the construction of a second pier, designed to receive more vessels of greater draft than currently available; and from one container beach to be able to efficiently operate the increase in the number of containers received and in transit.
In return, TPC committed to an ambitious environmental and social action plan which includes improvements in the management of environmental, social, labor, and occupational health and safety risks and impacts. In addition, they must optimize efficiency in the use of resources and pollution prevention.
According to the international credit organization, the investment agreement will contribute to compliance with the Sustainable Development Goals (SDG), particularly SDG 5—Gender Equality—; 8 —Decent work and economic growth—; 9 —Industry, innovation and infrastructure—; 13 —Climate action—; and 17 —Partnerships for the objectives.
In addition, it also highlights that neighboring countries will benefit in parallel from the expansion and improvement in the competitiveness of the Port of Montevideo.
Source: Ambito
