Puerto de Antioquia (Puerto de Uraba)

in implementation

The project consists of the design, construction, operation and maintenance of a greenfield multipurpose port facility located in the Gulf of Urabá, Antioquia, Colombia, under a 30-year concession contract (the “Project”). The Project will build up on existing and captive traffic (major shipping lines already call at Urabá despite the lack of modern port facilities), becoming the main outlet for Urabá’s banana and fruit exports, which represent 75% of Colombian banana exports. Due to its location and logistic cost advantages, it is also expected that Puerto Antioquia will divert cargo in/out of Medellin (2nd largest city in Colombia and main international trade region in Colombia), in/out Bogotá and their surrounding areas.Project Cost is estimated at US$650 million, including; (i) an offshore deck with 1337 meters of berth (570 for container, 537 for bulk & general cargo, 230 for RoRo) capable of handling super post-Panamax vessels; (ii) a 3.8km viaduct and access road that connects the offshore deck with the inland terminal; and (iii) 38ha inland terminal/logistic facilities, including a container yard, dry-bulk storage facilities, warehouses, inspection areas, maintenance and admin buildings and utilities. The Project’s initial handling capacity is of 600,000 TEU (expansible to 800,000 TEU), 1.15M tones of general cargo/year, three million tons of bulk cargo, and 60,000 vehicles. The Project currently has land access routes, but prior to start of operations there will be an alternate road build of 13 Km, in order to allow for the progressive expansion of port operations.Amendment:The project's total funding has increased to US$706.2 million since its initial approval in 2019. This includes the following components: (i) an offshore deck with 4 berths capable of handling post-Panamax vessels; (ii) a viaduct and an access road connecting the marine deck to the inland terminal; (iii) land terminal/logistics facilities; and (iv) a 115 kv transmission line. The IDB Group and IDB Invest's managed funds exposure to the project will be US$223 million.The initially planned 13 km road has been discarded. The new plan is to build a 4.3 km bypass around Nueva Colonia and make some improvements to the existing road from Río Grande to Nueva Colombia. These works will be provided by the National Government.