May 19, 2024
General News

‘Puerto Antioquia’ Construction Would Start in 2018; Open in 2020

Antioquia Governor Luis Perez announced November 15 the signing of a memo of understanding that would clear the way for starting construction in March 2018 of the US$600 million “Puerto Antioquia” ocean-freight port near Turbo.

Signing the memo were the Antioquia departmental government and its Instituto de Desarollo de Antioquia (IDEA) investment agency, France-based CMA Terminals, Colombia port operator/investor Pio SAS, banana export trade association Augura, the Sociedad Puerto Antioquia and the municipality of Turbo, Antioquia.

IDEA and the Antioquia department will put-up 5% of the funds for the project, due for start-up in second-half 2020, according to Governor Perez.

The new port not only would expand capacity for Colombia’s banana and coffee exports, but also will add new capacity for general containerized freight, bulk products and automobiles, at an estimated 6 million tonnes per year initial capacity.

At the signing ceremony, Colombia’s Transport Minister German Cardona Gutiérrez pointed-out that the national government’s COP$13 trillion (US$4.3 billion) current investment in “fourth generation” (4G) highways including the “Mar 1” and “Mar 2” highways and the “Toyo” tunnel — linking Medellin to Atlantic ports (including the future Puerto Antioquia) — are crucial to the economic future of Antioquia.

The deadline for financial close on the project is January 31, 2018, according to the governor.

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