SAAM, Terminal Zárate Ink MoU to Operate Car Terminal in Alabama
- Business & Finance
AutoMobile International Terminal, a joint venture of SAAM Puertos and Terminal Zárate, part of Argentinean group Murchison, has signed a Memorandum of Understanding with the Alabama State Port Authority (ASPA) to develop a Ro-Ro terminal at the Port of Mobile.
This deal represents the first step in the process of sealing the USD 60 million agreement to develop a RoRO terminal in the only deepwater port in Alabama.
James K. Lyons, Director and CEO of ASPA, said that the agreement represents a key step in diversifying the Alabama State Port Authority’s businesses while providing a strategic asset for automotive terminals and shipowners.
“The project will allow the Murchison Group and Terminal Zárate to continue expanding into new markets and diversifying their business matrix by partnering with SAAM,” Roberto Murchison, Chairman of Terminal Zárate, said commenting on the MoU.
The bids for terminal operator were launched in 2016 in order to meet the growing demand in the region for importing/exporting automobiles manufactured in the United States and the Gulf of Mexico.
The terminal will have a capacity for up to 210,000 vehicles per year, according to Chilean terminal operator SAAM Puertos. The facilities will be located on a 23-hectare lot and a wharf with a draft of 12.2 meters, and are well connected to local railroads and highways.
It would replace the current model of car exports in the region where the cars are loaded onto ships at ports in other states.
Image Courtesy: SAAM Ports