Through decree N° 137 / 001 of April 25, 2001 the Executive Power of the República Oriental del Uruguay approved regulations specifying the terms and conditions for the implementation of the agreement between the future corporation and the National Port Administration (ANP), which should necessarily include the management, construction, preservation and operation of a Container Terminal at the Port of Montevideo Port (formed by the so-called Muelle de Escala/Stopover Wharf, Storage Yard and related premises) under a Free Port system.

It is established that CND will hold "A-Series" shares representing eighty percent (80%) of the stock, while ANP will hold "B-Series" shares accounting for twenty percent (20%) of the corporate stock.

A public corporation will be created, with a paid-up capital integrated by unregistered shares, and formed by the Corporación Nacional para el Desarrollo (CND) (National Development Corporation) and the Administración Nacional de Puertos (ANP) (National Port Administration. The A-Series shares owned by CND, will be auctioned to the highest bidder at the Stock Exchange in one single operation, at a basic bid of two million U.S. dollars (US$ 2.000.000).

It is important to mention that to participate as shareholder, investors are not required to have specialization in port activities, but, once acquired the shares, an Specialized Operator has to be contracted who be able to guarantee the operative performance established same as the know-how required. A business plan has to be performed plus required investments in material and equipment according requirements.

CND and ANP will have two (2) months, as of the date of the Decree, to incorporate the above mentioned corporation.

The public corporation will sign with ANP a 30-year contract for the integral management of the Terminal, having same or it's Contractor (once the integral management contract is signed and approved by the Executive Power) to be empowered to act as a port service provider, prior to undertaking the Terminal's integral management.


To enable the Terminal to deliver high quality, reliable services, at the lowest possible cost for end users, while favoring the development of Uruguayan foreign trade it is established a "Management System" which sets forth the legal, technical and economic terms for the development of the integral management, including the commercial operation, management, construction and preservation activities of a Container Terminal at the Montevideo Port.

The Terminal Operating Contractor will be the legal person undertaking the integral management of the Terminal, and will be responsible for the delivery of all services at the Terminal. It should also conduct the integral management of the Terminal with the support of a Specialized Operator (a company specialized in operating container terminals), in order to reach its best capability and ensure the highest quality and efficiency standards in service delivery.

For such purpose, the Contractor should submit to ANP, for its further approval by the Executive Power, a Specialized Operator experienced in the operation of container terminals, according to conditions set forth in the decree. The Contractor should be responsible, between others to manage the Terminal; to provide for and apply management techniques for Container Terminals, especially related to port operations (including the supply of an operational computer system), and to advise on transport and port engineering and economics.

The selection and contracting of the Specialized Operator should contemplate the following: having no less than eight years of experience, in the 1991-2000 period, in the integral management and operation of container specialized port terminals. Likewise, he should provide irrefutable evidence of an average movement during that period (loading and/or unloading) not lower than TWO HUNDRED THOUSAND containers per year (200.000 containers/year), and at least ONE HUNDRED THOUSAND containers per year (100.000 containers/year) in a Terminal during the same period. The net assets of the Specialized Operator, as of the last fiscal year, should amount to at least TEN MILLION U.S. dollars (US$ 10.000.000)

According the Start-up Investment Program, the Contractor should make following minimum investments: Installation of one wharf gantry crane, additional to the one existing in the Terminal, either new or in excellent certified condition, of the "post Panama" type and technologically updated, with a minimum theoretical transfer capacity of thirty five containers per hour, Installation of an operational computer system to support management and control, aimed to the optimization of Terminal operations, Dredging of the area adjoining the existing Terminal wharf, at a minimum width of fifty meters, so as to enable the operation of vessels with a ten meters draft (33 feet), The extension of the mooring front of the Terminal, so as to count on new mooring positions for ocean vessels.

For the use of assets made available to the Contractor, ANP will be monthly paid a Fee resulting from the number of containers monthly handled at the Terminal and a variable amount, proportionate to the number of containers monthly consolidated or deconsolidated at the Terminal

The above mentioned provision entrusted the use of facilities for a 30-year period; as from the signature date of contract between ANP and the public corporation.

ANP will continue acting as Port Administration and Authority within the ambit of the Montevideo Port, according to its present role within the framework of the Port Law and its respective regulatory decrees, will supervise work execution by the Contractor, as well as the supply of the minimum required equipment.

For additional information please refer to:

Administración Nacional de Puertos República Oriental del Uruguay

Gerencia División Comercial

Phone: (+ 598 2) 1901833

Fax: (+ 598 2) 9164170

e-mail: anpcomer@adinet.com.uy