Project description:
Construction and exploitation project through a DBOT (Design, Build Finance, Operate & Transfer) scheme, of a new dock specialized in container handling, in the town of Paita, which has an estimated investment of USD 127 million. The port of Paita is linked to the city of Piura by a 56 km paved road. It has a breakwater type pier 365 meters long by 36 meters wide with 4 moorings up to 32 feet deep to serve ships. It is mainly made up of agricultural, fishing, mineral, and container products and has an underwater line for the shipment and discharge of petroleum derivatives. The concession includes the modernization, rehabilitation, installation of cranes, financing and operation of the terminal for 30 years.
Description of professional services:
Investment Banking for the structuring of the concession of the Port of Paita. The consortium that was awarded the prize in March 2009 was Terminales Portuarios Euroandinos (TPE), made up of the companies Tertir Terminais (Portugal), Cosmos and Translei (Peru). The concession contract has a duration of 30 years and an initial investment equal to USD 127 million according to the bases established by PROINVERSION. The consortium offered an additional amount of USD 100.8 million in investments that was the variable of the tender. For the above, a model was developed that estimates the project’s income through a demand allocation scheme based on the capacities of each Terminal dock. The financial model developed allows to simulate three types of financing: 1) Banking, 2) Capital market and 3) Mixed (Bridge loan). This is fed by the financial model, but it also has the flexibility to use exogenous income and costs, and to assess contingencies for the structuring of an annual guaranteed income guarantee (IMAG).
