FERRERE advised Terminal Cuenca del Plata (TCP), the public-private participation container terminal at the Port of Montevideo, on obtaining two loans totaling USD 443 million to expand its logistics capacity.

The financing obtained includes a loan of USD 340 million provided by Credendo, the Belgian export credit agency, and another USD 103 million from the Inter-American Development Bank (IDB Invest). The funds will be allocated to building a second quay wall and expanding the container yard to a length of 720 meters, more than doubling the volume of international cargo at the port.

TCP is a company held 80% by the Belgian international logistics organization Katoen Natie and 20% by the Uruguayan National Ports Administration (Administración Nacional de Puertos - ANP). It is in charge of container operations at the Port of Montevideo, the point of departure for 60% of Uruguayan sales (of this type) to the rest of the world in 2023.

The advice was provided by FERRERE’s Banking and Finance team, led by the partners Diego Rodríguez and Federico Lemos, and the attorneys Cecilia Trujillo and Lucía Rosso.