Montevideo Container Terminal

Promoter – Financial Intermediary

Katoen Natie Group

Location

• Uruguay

Description

The project consists of the expansion of the existing container terminal being operated under a concession scheme at the port of Montevideo.

Objectives

Contribute to i) support EU presence in Latin America through Foreign Direct Investment,
ii) the economic development of Uruguay and
iii) allow the transfer of European technology and know-how.

Sector(s)

• Transport

Proposed EIB finance (Approximate amount)

Up to EUR 40 million.

Total cost (Approximate amount)

EUR 82 million.

Environmental aspects

If within the EU the Project would fall under Annex I of the EU Directive 97/11 and would require an EIA. On 11 August 2004, the Uruguayan Environmental Authority (DINAMA) classified the project in the “C” category, requiring the preparation of a full EIA. An EIS was carried out and submitted to DINAMA on 6 December 2004, complemented in 2005 by an archeological impact study. A public hearing was conducted in 2005. The environmental authorization was granted by DINAMA on 23 October 2006, and required the close monitoring of dredging and sand extraction works. During appraisal the Bank will ensure that both the final EIA and the proposed mitigating measures comply with the principles of EU environment policies and with national requirements.

Procurement

Following the 1992 Free Port Law, the Government initiated the process of giving into concession the container terminal of Montevideo. The process was concluded in July 2001 by a public auction procedure, resulting in the sale of 80% of TCP’s capital to the Promoter and its local partners. The appraisal mission will meet ANP in order to obtain confirmation that the procedure followed by the Government of Uruguay was in line with the principles of EU procurement procedures.

Status

Signed - 7/12/2007