A new port operating company, Terminales Internacionales de Ecuador SA (TIDE), has been formed, and the project will involve a total investment of US$523m. The new terminal is scheduled to go into operation in 2007. It will have a container handling quay of 1,250 m in length, with depths alongside of up to 16 m. Upon completion of all phases, it will have a total area of 63 ha. In addition, a new fishing terminal will be built at the site.
Trajano Andrade, president of the MPA, commented: “We are encouraged by HPH’s decision to invest in the Port of Manta. TIDE will bring together our local market knowledge and HPH’s expertise in global port management and operations to help the Port of Manta become the region’s premier port.”