Hutchison starts Ecuador port concession

Hutchison starts Ecuador port concession Hong Kong-based Hutchison Port Holdings (HPH) last Wednesday commenced its 30-year concession to build and operate a new container terminal at the natural deepwater Port of Manta in Ecuador.
   Terminales Internacionales de Ecuador S.A. (TIDE) is expected to be operational in 2007 with a quay length of 1,700 meters (5,577 feet), a depth alongside of 16 meters (52.5 feet), and a total area after project completion of 63 hectares.
   In addition to the development of the commercial port, a new fishing terminal will be built, offering berthing space to the local and international fishing fleet.
   'The Port of Manta is strategically located on the West Coast of Latin America, within one hour's distance from international shipping routes, making it the ideal first port of call in the region by global shipping lines,' said Paul Gallie, TIDE's general manager.
   Patricio Padilla, general manager of the Manta Port Authority, said: 'We are confident that TIDE will become a maritime hub in the region, facilitating trade between South American nations and the Asian continent.'
   HPH is the world's largest container terminal group, operating a total of 255 berths in 44 ports worldwide.