Chilean ports need investment

Of this, $2.842bn is needed to upgrade existing installations and a further $2.4bn to build the planned deep-water port.

In a concrete development, Copec has applied for environmental clearance on its “Terminal de Productos Pacífico” (“Terminal of Pacific Products”) project at the Port of Coronel.

This will require investment of $123m for a terminal for the handling and distribution of fuel.

Copec argues that such a terminal is needed to give more freedom in this market in central Chile, as well as providing more fuel security to that part of the country in the case of a major disruption of supplies elsewhere.

The terminal will be able to accommodate vessels of up to 75,000 dwt at an island-style berth.