The lawsuit, of which the executive has already been informed, quantifies the damages for the extension of the concession for 80 years to the Belgian consortium Katoen Natie in the Cuenca del Plata Container Terminal (TCP), made possible in 2021.
Montecom, owned by Neltume Ports, whose shareholders include Chile's Ultramar and Canada's Atco, claims that preferential treatment to Katoen Natie harms free competition between operators.
When initiating arbitration proceedings, the Chilean company invokes the investment protection agreement between the two countries and assumes that Uruguay has violated this agreement.
The figure of 600 million is the estimate of losses and damages due to operational changes at the port of Montevideo since the extension of the 80-year concession to TCP.
According to digital publication Subrayado, mediation could begin in three months if there are no negotiations for an agreement between the parties.
The source reported that the lawsuit was presented to President Luis Luis Lacalle Pou and the Ministers of Economy, Transport and Foreign Affairs on January 18.
At the same time, the Administrative Court is processing appeals against the decree extending the port concession, presented by Montecon and separately by senators from the opposition Frente Amplio faction.
It is not out of the question that Canadian shareholders will initiate further arbitration proceedings, for which they have until next April.
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