We are diversifying our extensive portfolio of infrastructure assets and services with an agreement to acquire 40 per cent of Neltume Ports, a leading port operator and developer in South America. Neltume Ports, a subsidiary of Ultramar, operates in 16 port facilities and three stevedoring businesses primarily located in Chile and Uruguay.
Headquartered in Santiago, Chile, Neltume Ports’ portfolio is highly diversified across both cargo types and volume mix and handles nearly 51 million tonnes of product annually, including copper, forestry products, consumer goods and agricultural products, with approximately 3,900 employees.
The transaction complements our existing businesses, which include electricity and natural gas infrastructure, modular construction and logistical support services, and further cements our position as a premier global infrastructure holding company.
We partnered with Ultramar in 2016 through ATCO-Sabinco, which provides modular solutions, container offices and workforce mining camps in Chile.