Port Technology reports that the government of Uruguay has given the go-ahead for a $700 million deepwater port to help facilitate the country’s iron-ore exports to China.
The port construction works are scheduled to start in 2014.
This new port will be located near the Brazilian border in the town of La Angostura.
According to local news portals, this project has already attracted interest of Chinese investors.
World Maritime News Staff, July 2, 2012