Buenos Aires Puerto Nuevo Terminal 3

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Terminales Portuarias Argentinas S.A. (TPA) began operations in November 1994 after being awarded a 25-year concession to operate Terminal 3 in the Port of Buenos Aires in a competitive bidding process. Terminales Portuarias Argentinas S.A. (Autotransporte Antardida S.A. (64%), Lanco Products Inc./ Mi-Jack Products Inc. (10%), Arpetro S.A. (10%), and Rogge Marine Consulting GmbH (5%)) handled 37,309 containers in 1996 involving 364,567 million tons of cargo and plans 70,000 containers in 1997. The cost of moving a container through the port has decreased from a pre-privatization high of US$ 400-500 per container to an average of less than US$ 300 per container. The company received an IADB loan in 1997 of US$ 10 million. IFC approved a loan of up to US$ 10 million and an equity investment of up to US$ 2 million for the project in 1995. In Jun. 2000, TPA was acquired by P&O Ports. TPA will invest US$ 10 million in infrastructure and has already invested US$ 8.5 million to purchase two gantry cranes. None