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Cuba Celebrates Opening Of Mariel Port

by Mike Godfrey, Tax-News.com, Washington

29 January 2014


At a ceremony attended by Cuban President Raul Castro and Brazilian President Dilma Rousseff on January 27, 2014, Cuba's new USD957m port and container terminal in the Mariel Special Development zone was officially opened.

The port is being constructed by Brazilian construction company Odebrecht SA with financing from the Brazilian development bank BNDES. The facility will be managed by Singaporean port operator PSA International Pte Ltd.

The Mariel Special Development Zone, which opened on November 1, 2013, has been established to allow Post-Panamax vessels to stop over in Cuba. The facility is aimed in particular at providing a stopover for vessels transiting through the Panama Canal, and to accommodate extra consignments in anticipation that the United States' embargo will be eventually lifted. During the first phase, the container port will be able to process 800,000 twenty-foot equivalent units (TEUs) each year.

Brazilian President Rousseff said at the ceremony: "Brazil is proud to partner with Cuba in this first container port in the Caribbean."

TAGS: marine

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