Navios South American Logistics Inc. (Navios Logistics), a subsidiary of Navios Maritime Holdings Inc. (NYSE: NM ), announced the inauguration of its newly completed iron ore transshipment and storage facility in the Nueva Palmira Free Zone, Uruguay on Thursday March 30, 2017.
Present at the inauguration was the Board of Directors and executive team of Navios Logistics as well as representatives from a number of branches of the government of Uruguay, including the Minister of Transport and Public Works, Mr. Victor Rossi, and the Minister of Foreign Affairs, Mr. Rodolfo Nin Novoa.
Image courtesy of Navios
Ms. Angeliki Frangou, Chairman of Navios Logistics, said, "We celebrated the culmination of a four-year effort by inaugurating our world-class iron ore transshipment and storage facility. The new facility represents a significant investment in essential infrastructure for the region and a critical component of the export supply chain of Navios Logistics's customers. With the completion of the iron ore facility, we have about 70 acres available for further expansion."
Ms. Frangou continued, "Our state-of-the art facility can transship 10 million tons per year, with a loading rate of 3,900 tons per hour, can accommodate simultaneous loading of ocean-going vessels and unloading barges, and has an initial storage capacity of not less than 700,000 tons of iron ore. The facilities include a new pier for loading ocean-going vessels, a new pier for unloading river barges, and a new mooring location for barge convoys. When the iron ore facility is fully operational, we expect to double the number of our employees to a total of 320 people."
Mr. Claudio Lopez, Chief Executive Officer of Navios Logistics, added, "We operate on about 150 acres in a perfect location, at the mouth of the river, where commodities can be transshipped through Capesize vessels. The iron ore storage and transshipment facility will provide a significant additional service we can offer our customers. We expect that this facility will allow us to expand our service both through barge transportation to the facility as well as through transshipment and storage."
Navios Logistics has a 20-year commitment to provide Vale International S.A. with storage and transshipment of iron ore and other commodities for a minimum of 4.0 million tons annually. With the inauguration of the facilities, Navios Logistics has received indications of interest from other parties for transshipment services, although no assurances can be provided such will materialize into contracts.