Venezuela’s transport and communications ministry has signed an agreement with the Portuguese government to kick off an expansion project at La Guaira port in Vargas state.

The project will cost around US$400mn, transport and communications minister Francisco Garcйs said in a statement published on the ministry website.

Work will be carried out by Portuguese construction firm Texeira Duarte and involves incorporating 23.7ha to the port’s existing area.

The expansion will allow the port to receive ships carrying up to 6,500 TEUs. The facility can currently handle ships with up to 2,000 TEUs.

The project is due for completion in 2016, after which the port will be able to receive 600,000 TEUs annually, the release said.

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