New alternatives for financing a river dredging project (Argentina)
Raul S. Escalante – Sebastián García – Martín D. Civeira
HIDROVIA SA
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Hidrovía S.A. is a bi-national Company formed by:
• Jan de Nul NV (from Belgium)
• Emepa S.A. (from Argentina) With the object of doing:
• Capital and maintenance dredging Jan De Nul • Aids to Navigation system Emepa
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• Owner: Argentine Government
• Concession Expiring: 2021
• Risk Contract
• Incomes:
Santa Fe- Ocean: Toll Santa Fe- Confluencia: Argentine Government Financing
Dredging and AtoN services in Argentina
• Capital and maintenance dredging
• Bathymetric surveys for depth control
• Aids to Navigation: deployment and maintenance
• Tide, waves and wind measurements
• Environmental Management Plan
• Projects and Studies Department
• Traffic Control
Tasks performed
Total goods movement (international and domestic) in the waterway (SFO) – Year 2010
Total: 111 million tons
Total goods movement (international and domestic) in the waterway (SFN) – Year 2010 (metric tons)
Total: 16 million tons
Toll Formula - Dredging
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TD = td x CF x NRT td: Dredging coefficient ($/ ton) CF: Correction Factor NRT: net register tonnage
Port and River Costs
• River Pilotage • Variable Port costs: berth, different vessel
and passenger taxes, tug… • Fixed Port costs: customs, maritime agency…
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Costs Compared
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• Pilotage (round trip Recalada-Rosario) 2,35 • HV Toll 1,20 • Tugboat 0,79 • Port taxes 0,30 • Maritime Agent 0,29 • Berth and port facilities (per day) 0,10 • Commodities (soybeam Chicago) + 515,00
Other Practices Short Dredging Contract
• Bidding process • Time consuming • Administrative aspects • Siltation after end of contract • Possible delays in payment
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Other Practices Public Dredging
• Governments can sometimes be quite efficient, but... • Delays • Objectives not accomplished • More “relaxed” controls
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Conclusions • Public financing is difficult to maintain through the years • Dredging and AtoN works in charge of the Government
sometimes are not as efficient as they should • Our financing depends only on vessels using the waterway,
which reasonable toll fees
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