Port of Montevideo expansion

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"This project involves the expansion of the Port of Montevideo, located in Montevideo, Uruguay. The project works encompass constructing a second dock, building a container yard, and enhancing the port's management of environmental, social, labor, and occupational health and safety risks and impacts. This project will enable the port to double its current international cargo volume and increase its efficiency. The sponsors for this initiative are Katoen Natie Group (KNG) and Uruguayan Ports Authority through their joint venture ownership of the Terminal Cuenca del Plata (TCP). In 2001 Katoen Natie participated in the auction of the shares of Terminal Cuenca del Plata S.A, to manage and operate the Specialized Container Terminal in the Port of Montevideo, and, having made the highest offer, it became owner of 80% of the company’s shares. The total project cost is $500m of which IDB Invest will provide $103 million in financing to Terminal Cuenca del Plata S.A. (TCP), which includes mobilizing $46 million in resources from Banco Bilbao Vizcaya Argentaria S.A. (BBVA) for the design, construction, and operation of the Port of Montevideo's expansion. Additionally, this financing will be complemented by a $340 million facility provided to commercial banks by Belgium's export credit agency, Credendo. The financial close date is 11th of April, 2024. " https://idbinvest.org/en/news-media/idb-invest-supports-expansion-port-montevideo-boost-uruguays-foreign-trade ; https://www.bnamericas.com/en/news/idb-invest-supports-the-expansion-of-the-port-of-montevideo-to-boost-uruguays-foreign-trade ; IJ Global: Uruguay port financing closed https://idbinvest.org/en/news-media/idb-invest-supports-expansion-port-montevideo-boost-uruguays-foreign-trade ; https://www.bnamericas.com/en/news/idb-invest-supports-the-expansion-of-the-port-of-montevideo-to-boost-uruguays-foreign-trade ; IJ Global: Uruguay port financing closed