Venezuela: CHEC Inks Cabello Port Deal

CHEC signed an EPC general contract for Cabello Port New Container Wharf Project with VBOLIPUERTOS, S.A. on October 3. The value of the contract is approximately USD 520 million, with the total construction duration of 36 months.

The Cabello New container Port will be constructed in three phases. The current contract has been executed for Phase I Project, which mainly covers two 70,000DWT container berths, 690m long steel pipe sheet pile gravity-type wharf bank line, container yard with total area of 379,000m2, 736m long breakwater, dredging of harbor basin, loading and unloading equipment, road yard as well as the supporting facilities for water, electricity, communications, automatic control, fire protection, civil engineering facilities and others. Annual handling capacity of the new Phase I container berth project can reach 700,000 TEU.

The project is the first framework project for which CHEC has executed a contract in Venezuela. Execution of contract for the project symbolizes CHEC has made a good beginning in exploring market of Venezuela and laid down a foundation for CHEC to further expand the market of Latin America.

Source: CHEC, October 11, 2011

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