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Portfolio & StrategyOperations & Footprint 16 Sep 2026

Neltume Ports submits USD 884m Montevideo container terminal proposal

Neltume Ports has submitted to Uruguay's presidency a USD 884m proposal for a second specialised container terminal at the port of Montevideo, designed for 1.15 million TEU a year across 920 metres of berth and about 38 hectares reclaimed from the sea. President Yamandu Orsi said on 16 September that the proposal was good in principle but that the government must analyse constraints, while port authority ANP is to assess feasibility, including the contract clause protecting incumbent Terminal Cuenca del Plata. Neltume Ports, principal shareholder of Montevideo operator Montecon, recently withdrew a claim against Uruguay linked to the state's terminal agreement with Katoen Natie.

Why this mattersA second specialised terminal would end Terminal Cuenca del Plata's exclusivity at Montevideo and add 1.15 million TEU on a main Southern Cone export route.

  • The Montevideo Container Terminal proposal totals USD 884m and became known around 10 September 2026
  • Planned capacity is 1.15 million TEU a year, with 920 metres of berth and about 38 hectares reclaimed from the sea, without occupying existing public quays
  • President Yamandu Orsi said on 16 September 2026 that the proposal was good in principle but that there are constraints to analyse
  • ANP will assess feasibility through a multidisciplinary group; the state's contract with Katoen Natie limited a second specialised terminal until Terminal Cuenca del Plata had operated at 85% of capacity for two consecutive years
  • Uruguay's administrative court annulled the clause of the 2021 decree that restricted a second terminal, which Neltume Ports argues clears the way for competition at the port
  • Neltume Ports denies that shipping line MSC is behind the proposal and projects 1,800 jobs during construction
Neltume Ports Katoen Natie mentioned Mediterranean Shipping Company mentioned
Sources teledoce.com ES ladiaria.com.uy ES
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-09-18 · Combined from 2 drafts about the same company
  • 2026-09-18 · Edited before publication: Three items go beyond the sources: the USD 468m and USD 416m phase split, the aim of doubling port throughput to 1.4 million TEU by 2035, and the description of MSC as a co-investor when the source records Neltume Ports denying MSC is behind the proposal. Materiality lowered to 2: a container terminal proposal is adjacent to the packaging chain rather than material to it
  • 2026-09-18 · Edited before publication: USD 884m, 1.15 million TEU, 920m of berth, 38 hectares reclaimed, Orsi's 16 September remarks, the ANP feasibility review, the Katoen Natie 85%-for-two-years clause, the TCA annulment of the 2021 decree clause, the withdrawn claim and the MSC denial are all grounded. "Why this matters" was vague on the consequence; tightened and quantified.