The Port of Buenos Aires has launched the tender for its Port Modernization Plan. The plan projects the increase of capacity from 1.4 million Twenty Foot Equivalent Unit (TEU) in 2020 to 2.7 million TEU in 2030 and would represent about US$1.9 billion for over 50 years. 

The port will be renewed with a flexible design, capable of adapting to the needs of the next fifty years, in a more competitive way, taking care of environmental and quality standards. Unifying the end of the contracts of the concessions of the current port terminals in May of 2020, allowed to develop and execute the modernization project that will be integrated with initiatives such as the Paseo del Bajo and the Young District.

The concession contract contemplates that during the first 10 years, the private company will invest US$760 million in works, while the State will have to disburse US$300 million in the same period.

The plan includes improvements such as single port access that will decongest traffic in the port area. Additionally, the uninterrupted circulation will reduce environmental and acoustic pollution and will separate heavy traffic from light traffic.

The constitution of a single zone of customs verification will lower costs, add efficiency and speed in operations. In addition, the total capacity of the port will be increased and connected to the freight train. To guarantee greater transparency in operations, maximum rates will be established to avoid cost overruns and billing surcharges.

On the other hand, cargo operations and cruise activity will be separated, increasing the efficiency and safety of both operations, providing greater comfort and service to passengers.