New concessions for Montevideo and Puerto Bolívar

The operator’s managing director Juan Olascoaga said he had not been made aware of the initiative, which could see Montecon awarded the concession.

Given a shortage of space at Montevideo, a box terminal at Punta de Sayago port is now being investigated as an alternative, although this would not be achievable for at least five to 10 years.

“We have never proposed having our own terminal. We simply needed to deploy gantry cranes in the multipurpose quays in order to compete with the right tools,” said Mr Olascoaga.

Private box terminal operator Terminal Cuenca del Plata had earlier put forward a suggestion to lengthen its own concession in return for more investment. It has repeatedly challenged the right of Montecon to operate in the public area of the port without making any investment.

Meanwhile, in Ecuador, the government is to upgrade infrastructure and equipment at the port of Puerto Bolívar at a cost of $611m. This will be achieved by transferring all port operations to the private sector as part of a 37-year concession.