Buenos Aires concessions to be lengthened
Argentinas General Ports Administration has confirmed that, with government support, it is prepared to extend concession periods of port terminals in the so-called Puerto Nuevo district of Buenos Aires.
It said that the need to make greater investment justifies lengthening the concessions. Not only do the concessionaires have to fund construction of the docks and the quay, but they will also need to deepen the port channel to enable larger ships to access the area.
Buenos Aires Terminal Container Services, whose concession expires in 2012, has already invested $8.5m and must invest a further $4.5m to strengthen its quay wall.
It has therefore welcomed the announcement, since it will allow it to recoup some of its investment in a much faster period of time.
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