Uruguayan State requested hefty sum in damages over Montevideo Port deals

Chilean and Canadian partners of the Montecon consortium handling operations in the port of Montevideo have started an arbitration process for “damages and losses” worth up to US$ 600 million against the Uruguayan State before the International Centre for Settlement of Investment Disputes (ICSID) after preventing the company from transferring and storing containers in the facility's docks. Montecon is owned by the Neltume Ports consortium.