Latin America investing in ports

However, according to the Association of American Port Authorities, this level of investment has not been seen in the region for at least 50 years, which means that Latin America is simply catching up with the rest of the world.

In Ecuador, over the last three years, $100m has been invested in ports, which 90% had gone to Guayquil.

However, attempts to privatise operations in the ports of Manta and Esmeraldas have so far failed.

Since ports in Colombia were privatised in 1996, they have generated a growing number of both direct and indirect jobs.

In Peru, port development has only begun to gain pace within the last three years, with Callao leading the way. Much of the development is due to private sector investment.

In Brazil, although the 34 public ports rely on government investment for major works, terminal operators are benefitting from an improving and easing of regulations regarding private sector participation and there have been a number of new initiatives.

Further, ICTSI announced that it plans to spend $600 million to $750 million spread over a period of two to three years to expand its facilities in Latin America with the investments spread across Argentina, Mexico and Colombia.