The PPP port terminal project will be developed on a design, build, finance, and transfer (DBFT) basis. The total investment is estimated at US$1 billion.
Part of the project will not be covered by the PPP contract and it will be financed through the "Fondo de Convergencia Estructural del Mercosur (FOCEM)".
The project involves a 20m-draft harbor, to be focused on handling minerals, which will be built in Rocha department. The engineering studies are being developed in order to have ready all the documents to start the tender process, according with the chairman of the port interministry commission, Pedro Buonomo.
In August 2012 the MTOP called for the opening of a data room addressed to foreign investors, and on September 17, 2012 the inaugural session of the data room was held.
Act No. 19.046 approved on January 4, 2013, allowed for the construction of the Aguas Profundas Port in El Palenque area, in Rocha department.
The construction of this port is supposed to provide Uruguay with competitive advantages in the commercialization of different products, to improve the supply chain across the region, and to help reduce costs associated with transportation of grains, minerals and forest products exported from Uruguay, Argentina, Brazil and Bolivia to the Far East and Southeast Asia.