On behalf of our clients Terminal Link and PiO S.A.S Astris is pleased to announce that Terminal Link and PiO S.A.S have signed a Memorandum of Understanding thus formalizing their association to develop the Puerto Antioquia project, a 650,000 TEU port development in the Gulf of Uraba, Colombia.
The Project, whose development was initiated by PiO S.A.S, consists in the development of a multipurpose terminal located near the city of Turbo.
The project will:
· serve as a gateway to the region of Antioquia (Medellin) and the interior of the country taking advantage of Uraba’s location and proximity to the Panama Canal.
· cater to the needs of the local fruit export industry which currently exports 1.7 mtpa of fruits to Europe and the US without any port infrastructure at the moment.
In its first phase, the terminal will be able to handle 650,000 TEU’s/year.
Construction works are expected to start in early 2017.
Astris advised PiO and Terminal Link on the structuring of the co-investment and development partnership. Astris is now advising the equity partners on the last stretch of project development and debt raising.