Buquebus Awaiting Approval For New Montevideo Megaport

Patrick Archer foreign investment, real estate, tourism, uruguay, visionaries

Proyecto Capurro Buquebus

The US$100 million development would improve the arrival experience for passengers in Montevideo.

An ambitious new megaport project in Montevideo which received municipal approval three years ago is still awaiting approval from the National Port Authority (ANP).

According to El Pais, the phenomenal growth in the number of ships arriving in the Port of Montevideo in recent years prompted Buquebus to search for undeveloped parcels where the ferry operator could build a new terminal, a five-star hotel and luxury condominiums. The US$100 million Port of Capurro would transform an area of the coast that is largely industrial.

The lone hurdle revolves around access. In order to move forward, the Port Authority would need to dredge a new canal. The current proposal would have ANP covering the cost of canal construction and then charging Buquebus and other ships for access going forward.

ANP’s President Alberto Diaz expresses a willingness to help with the construction of the canal, although he says his agency wants to see more details regarding “technical aspects” of the project.

The development was originally approved by the city in January 2010 and now forty months later, the number of ships coming into the Port of Montevideo has surged dramatically. This month alone over 100 ships have been spotted off the coast, according to Marcelo Gallardo. (Full Story in Spanish)

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