ITI S.A. Invests USD$10 Million in Expanding Site 4

Date: February 2010

Despite the operation decreased in Iquique Terminal Internacional during the past year, the steady stream of investments continues betting on the recovery of markets and the future outlook of Chile First Region’s chief port operator.

One of the most important investments refers to the extension of berthing site 4, whose progress exceeds 25%. This project aims to increase its length of 69 meters allowing berthing of larger ships, which, according to shipping market trends, are soon to arrive in this local port. The investment required is about USD$10 million according to information provided by the ITI’s CEO, Fernando Ugarte.

The project was awarded to the Constructora Belf (Construction Company). This is the same construction company that expanded and seismically retrofit the berthing site 4 which. These improvements effectively withstood the 2005 earthquake that hit the First Region.

Regarding expectations for this year, Ugarte expected that recovery should start to be noticed by the second half of this year. In this regard, he said that the restriction imposed by Bolivia to the entry of cars over five years old was one of the critical factors that strongly prompted the fall of operations; however, he points out that these should go back to normal.

Back | Up