The construction of a Deep Water Port (hereinafter “Puerto de Aguas Profundas” or “PAP”) along the coast of the Atlantic Ocean has been imagined for decades by the Uruguayan Government and by various private entities linked to maritime and port business.
An Executive Branch Decree was recently enacted to expropriate land in the province of Rocha (over five hundred plots). The initiative will be regulated under the private and public association act (PPA).
Along the above lines, in August 2012 the Ministry of Transport and Public Works (“MTOP”) called for the opening of a data room addressed to foreign investors, and on September 17, 2012 the inaugural session of the data room was held.
Act No. 19.046 of January 4, 2013 declared allowed the construction of the PAP along the coast of the Atlantic Ocean in the province of Rocha. The act establishes that the PAP and the activities that are carried out in connection therein, must first obtain all clearances and authorizations required by current regulations, especially those relating to land use planning and environmental protection.
The construction of this PAP is supposed to provide Uruguay with competitive advantages in the commercialization of different products, to improve the supply chain across the region, and to help reduce costs associated with transportation of grains, minerals and forest products exported from Uruguay, Argentina, Brazil and Bolivia to the Far East and Southeast Asia.
The development of the port is scheduled to entail an investment estimated in more than US$ 1.000 millions.