USD 35 Million Investment For Manta Tuna Portff

The Andean Development Corporation ADC) office in Quito announced yesterday that it will invest USD 35 million for the construction of the Port of International Cargo Transfer in the city of Manta, Ecuador.

This provision, which is guaranteed by the Ecuadorian Government, will finance part of the first phase of the project “Megaports International Cargo Transfer in the Port of Manta”, located in the province of Manabi, states a report from the ADC office.

The Port of Manta is currently regarded as one of the most important tuna ports in the world and with its modernization it is expected to become a center for the transfer of cargo in the region, as well as between Asia and South America.

According to CAF, the Manta “Megaport” will also extend regional economic growth, which will positively impact the development of Ecuador. It is located in the western most point of South America, close to the major shipping routes, with easy access to open sea with natural depths of twelve meters during the lowest tide, the report states.

These conditions allows an easy entry to port of large vessels which will be able to dock 24 hours a day, 365 days a year, without any waiting time. Unlike other major ports on the Pacific Ocean, the Manta Port does not need dredging, which will result in lower operating costs, according to the ADC report.

The construction and operation of the Manta “Megaport” was granted to the company “International Terminals Ecuador (TIDE)”, in 2006, a subsidiary of the Hutchinson Port Holding, originally from Hong Kong, one of the two largest port operators in the world.

The port of Manta, which currently has a loading capacity of 40,000 tons per year, foresees to triple this capacity within a three year period and reach 1.6 million tons at the end of the project.