Ten Bidders Look to Chile´s Punta Arenas Free Trade Zone

Ten companies have expressed interest in the 23-year Punta Arenas Free Trade Zone concession. The current concession of Parenzon Chile Ltd expires February 2007, reports Punta Arenas´ La Prensa Austral local newspaper.

Apparently besides the current concessionaire and the Otway Society, both well known investors in Magallanes Region, the bidding conditions have been acquired by Edelmag S.A.; Zona Franca de Iquique S.A. (Zofri); Agencias universales S.A. (Agunsa); Larraín Vial Servicios Profesionales Limitada; Centro Electrónico Limitada; Comercio e Inmobiliaria ENE S.A.; Administración, Gestión y Servicios Austral; Sociedad Rentas Inmobiliarias; y Distribución y Servicio D&S S.A.

“We´re most satisfied with the number of companies that have shown an interest in the bid and also with the name and standing of investors involved”, said Eugenia Mancilla governor of Magallanes Region.

According to the basic conditions of the bid, a floor of 4.5 million US dollars plus a 12 percent on all sales must be turned over to the regional government.

Besides, with a strong bidding process, the investments program in the Free Trade Zone will be enhanced, “meaning that Punta Arenas can become a great commercial centre for Patagonia”, added Ms. Mancilla.