IDB Invest finances Terminal Zarate port expansion in Argentina
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, will finance the expansion of the Terminal Zarate port, the most important in Argentina's automotive transportation sector and located in a strategic area to move goods and containers from the center and north of the country along its waterways. IDB Invest will provide an A loan of $15 million and the financial institution CIFI will provide a B loan of $15 million.
The Argentine trade will grow in the coming years and the investments financed by IDB Invest will allow Terminal Zarate port to meet the incremental demand of its clients for its services, competitively and efficiently.
This operation seeks to increase the capacity of Terminal Zarate to move containers of up to 300,000 TEUs (twenty equivalent units). IDB Invest’s loan will be used mainly for the expansion of the port wharf to handle larger ships. It will also be used, among other investments, in the purchase of a gantry crane and other similar RTG (rubber tired gantry) crane investments, which will allow a greater volume of cargo to be managed more efficiently.
IDB Invest offers Terminal Zarate a long-term financing of up to eight years, which is adapted to the repayment needs of the investments to be carried out by the company. In addition, the IDB Group has helped mobilize funds from third parties to complete the financial package. Thanks to IDB Invest’s participation, the project will comply with the environmental and social standards of this institution.
About IDB Invest
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.6 billion under management and 330 clients in 21 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation. www.idbinvest.org
About Terminal Zarate
Terminal Zarate, a multipurpose port terminal, operates as a container, general cargo, and vehicle terminal. Strategically located in the main industrial region of Argentina, Terminal Zarate functions as a logistics connector with the rest of Argentina. The port facility is divided into two distinct units: the Vehicle Division, which was designed according to international standards to operate both as a port and as a multi-brand distribution center; and the Container and General Cargo Division, which was designed and built to provide container handling services (160,000 TEU of maximum capacity per year) with the possibility of offering logistics services adapted to the needs of each client. Additionally, Terminal Zarate has a business line for the project loading operation and has equipment and infrastructure that positions it as a reference in the provision of port services for this type of cargo.