Chile to choose which of two ports gets the lolly

Chile plans to invest US$4.07 billion over the next 15 years in seaports, but has a choice of two rival ports in which to sink the lolly.

The ports of San Antonio and Valparaiso together can handle up to 2.3 million TEU, sufficient to handle the 60% of Chile’s overall cargo that presently flows through them.

Demand is forecast to grow four to five percent a year.

San Antonio has submitted a US$2.1bn proposal to increase its capacity by six million TEU a year, while Valparaiso is asking for an investment of US$1.23bn to raise capacity by three million.

Next year, the government will decide either/or – or it has a third choice of sharing it between the two.

Source: Business News Americas and Shipping Gazette