Chile’s Port of Valparaíso will reportedly double its capacity by 2017 under a new expansion plan which will turn the facility into the South American nation’s leading port, overtaking the Port of San Antonio.
Spanish company OHL Concesiones, which won a 30-year concession to run the terminal in April, will fund the US$350m investment, with the Chilean government seeking additional backing to reach a total investment of US$507m, according to a report by Seatrade Global.
Under the plans, a second terminal of a similar size to the existing port will be built.
The creation of the 33.5ha Terminal 2 will result in capacity at Valparaíso, which handles mainly fruit, copper and iron, rising to 22m tonnes of cargo and 950,000teus.
The expanded facility will also be able to deck simultaneously two post-panamax ships, of 22 containers wide.
“We are enhancing Chile’s competitiveness and repositioning ourselves as leader in the regional port market,” Chilean transport minister Pedro Pablo Errázuriz explained.
The Port of Valparaíso currently handles 11m tonnes of cargo annually.
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