The project aims to make port logistics more competitive, improve connectivity with Antarctica, and boost tourism in the Magallanes Region.
WASHINGTON — IDB Invest has committed up to $14 million in financing to Empresa Portuaria Austral (EPAustral) to expand and modernize ports and public ferry access ramps for vehicules, passengers, and cargo in the Magallanes Region, a strategic national and international connectivity hub.
The project includes improvements to the company’s main terminals – the Arturo Prat Terminal and the José Santos Mardones Terminal, both in Punta Arenas – to increase berthing capacity, enhance general cargo handling capacity and efficiency, and optimize port services. These investments will help boost cruise tourism, strengthen logistics services for Antarctic programs, and improve regional and international maritime connectivity.
The project will also enable the development of strategic infrastructure for new industries in the region, thereby diversifying the economy and enhancing the competitiveness of a remote area with high energy potential.
The financing is structured as an unsecured senior corporate loan of up to $14 million from IDB Invest. This financing will be complemented by resources from the Inter-American Development Bank (IDB), subject to the institution’s relevant approvals, to support works at the Mardones Terminal aimed at enabling infrastructure for the development of new industries in the country.
IDB Invest will also provide technical assistance on resilient infrastructure and energy-efficiency measures for more sustainable operations.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $22 billion in assets under management and over 400 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website www.idbinvest.org/en.
About Empresa Portuaria Austral
The state-owned enterprise Empresa Portuaria Austral has managed the public port infrastructure in the Magallanes Region since 1998. It runs the Arturo Prat, José Santos Mardones, and Puerto Natales terminals, and seven public ferry ramps in the municipalities of Punta Arenas, Porvenir, Natales, and Puerto Williams, providing access to over 1,000 kilometers of transport corridors. EPAustral plans to invest over $130 million by 2028 to improve its terminals and thereby drive development in the Magallanes Region. Its public port services connect the region, promote productive development, and position Chile as a gateway to the Antarctic. For more information, visit www.epaustral.cl or find @epaustral on Instagram, Facebook, Twitter, LinkedIn, or YouTube.