[REVISION HISTORY]
Neltume Ports investment and legal developments in Uruguay
Updated 1 time since CLSTR started tracking revisions of this situation.
What changed
2026-09-10 13:08 UTC → 2026-10-02 16:32 UTC ·
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Neltume Ports and the Uruguayan state have resolved a legal dispute through an agreement by agreeing to withdraw an arbitration case previously filed before the International Centre for Settlement of Investment Disputes (ICSID). The settlement was reached “without conditions” and “with prejudice,” meaning Neltume Ports and its affiliates will not initiate future legal actions regarding the same facts. Under the agreement, Uruguay assumes no responsibility or compensation regarding the claims, which originated claims originating from economic disputes related to the extension of the Terminal Cuenca del Plata concession. Following this legal resolution, Neltume Ports has proposed formally presented a proposal to the Uruguayan government to invest approximately US$ 900 million investment to develop the Montevideo Container Terminal (MCT) in Uruguay. (MCT). The project, which has been formally presented to the government, project aims to expand the Port of Montevideo's Montevideo’s capacity to handle up to 1,150,000 TEUs annually. The proposed infrastructure includes annually through 940 meters of berthing space and 38 hectares of operational surface, surface. The initiative is intended to establish position Uruguay as a logistics platform for the Southern Cone. Cone and is estimated to generate 1,800 jobs during construction. However, Katoen Natie, the Belgian company controlling 80% of Terminal Cuenca del Plata (TCP), has threatened to initiate international arbitration through ICSID if the government accepts the Neltume Ports proposal. Katoen Natie argues that a second terminal would undermine the economic viability of its own US$ 600 million expansion project and violate legal stability clauses. The company claims a competing terminal should only be authorized once TCP reaches 85% capacity for two consecutive years. Fernando Correa, Institutional Relations Manager at Katoen Natie, noted that any new legal claim could be significantly larger than the company’s previous US$ 1.5 billion litigation against the State.
Versions
- 2026-10-02 16:32 UTC Neltume Ports investment and legal developments in Uruguay
- 2026-09-10 13:08 UTC Neltume Ports investment and legal developments in Uruguay
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