Argentinian Banks Finance Port of Quequén Dredging

Argentinian development bank BICE and local commercial bank Banco Macro agreed to provide $32.2 million US in financing for port administrator Consorcio de Gestión de Puerto Quequén to fund a maintenance dredging project at the local port, BICE said in March. Jan De Nul will perform maintenance dredging to bring the port’s basin and its inner channel to 50 feet. Out of the combined $32.2 million US loan, Banco Macro will provide $20 million US with a 60-month pay period, while BICE will aid $12.2 million in a 80-month timeline. The dredging project is expected to be completed in multiple phases. In mid-April, Jan De Nul’s TSHD Kaishuu arrived. In April, Arturo Rojas, president of administrator Consorcio de Gestión de Puerto Quequén, estimated that the maintenance dredging project will take about four to six months.