MARIEL, Cuba (Reuters) – Cuba yesterday inaugurated a $957 million port billed as the most modern in Latin America and crucial to the economic future of the communist-ruled island in a project financed by Brazil and equipped for ships passing through an expanded Panama Canal.
Cuban President Raul Castro and Brazilian President Dilma Rousseff cut the ribbon in a ceremony attended by other regional leaders in Cuba for a Latin American and Caribbean summit.
It was financed largely by the Brazilian development bank BNDES and built by Brazilian construction company Odebrecht SA.
The Mariel container terminal, to be operated by Singaporean port operator PSA International Pte Ltd, will include a rail and highway support system and replace Havana as Cuba’s most important port.
The Mariel special development zone covers 180 square miles (466 square km) centred around Mariel Bay, 28 miles (45 km) west of Havana.
Cuba’s first special development zone has been built to accommodate post-Panamax ships, the larger vessels designed for the canal when an ongoing expansion is complete, expected some time next year.
The Mariel terminal, which will have an initial 765 yards (700 metres) of berth, is ideally situated to handle US cargo if the American trade embargo is eventually lifted, and will receive US food exports already flowing into the country under a 2000 amendment to sanctions.
Containers bearing the marking of US-based Crowley Maritime Cor-poration were being unloaded yesterday.
“The embargo will not last forever, and when it falls, Cuba will be strategic for Brazilian companies because of its geographic position,” said a Brazilian government source, who asked to remain anonymous.
