Buenos Aires-Colonia Bridge Construction Agreement Signed

[soliloquy id=”20407″] Plans for a¬†43-kilometer bridge spanning the River Plate and connecting Argentina and Uruguay took a giant step forward today with the signing of a construction agreement. The Argentina/China Chamber of Commerce¬†(ACC) signed the agreement with China Dalian International Group (CDIG), the Dalian-based engineering and construction company that specializes in large-scale infrastructure projects outside of China. The signed agreement …

Uruguay President Mujica Courts More Finnish Forestry Investment

[soliloquy id=”20570″] Uruguay President Jose Mujica is in Helsinki this week encouraging Finnish investors to double down on a country and a sector they have dominated in recent years: Uruguay cellulose pulp production. Yesterday President Mujica and a large delegation of Uruguay government officials met with senior executives at the Helsinki headquarters of UPM, the company that operates Uruguay’s first …

Punta del Este Bracing For Another Slow Summer Season

[soliloquy id=”20545″] With only three months to go before summer, Punta del Este hotels, restaurants and real estate brokerages are bracing for the third consecutive season of fewer visitors and declining tourism revenue. Punta del Este Threatened By The Perfect Storm is the headline of Marcelo Gallardo’s analysis in today’s El Pais which predicts the 2014/15 summer season will be …

Uruguay Can Now Expand Offshore Drilling Projects 150 Nautical Miles

[soliloquy id=”20485″] After three years of negotiations, Uruguay finally signed an agreement with the United Nations which extends Uruguay’s continental shelf from 200 to 350 nautical miles. The additional 150 nautical miles of underwater land opens up the possibility for Uruguay to move forward with offshore drilling activities on an additional 80,500 square kilometers of underwater territory. According to the …

Uruguay Sells Buenos Aires Embassy Building For US$12.5 Million

[soliloquy id=”20477″] Two months after putting the thirteen-story Recoleta property on the auction block, Uruguay has sold its embassy in Buenos Aires for an estimated 36% haircut. Officially announced in April, the bid process for the property at the corner of Las Heras and Ayacucho closed on June 5th with a total of five bids submitted from Nicolas Billa, Morning …