IDB Invest Supports Terminal Zarate Port Expansion
- Business & Finance
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, will finance the expansion of the Argentinian Terminal Zarate Port, located in a strategic area to move goods and containers from the center and north of the country along its waterways.
Under the agreement, IDB will provide an A loan of $15 million and the financial institution CIFI will provide a B loan of $15 million.
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.
According to the official announcement, 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.