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Puerto Rico plans to build a modern, high-tech port designed to outclass existing Caribbean facilities and significantly increase the island's trade, which now exceeds $43 billion annually.

The Port of the Americas Authority recently issued a request for proposals (RFP) seeking local and international firms or consortia interested in designing, building, operating and maintaining a port in Ponce, Puerto Rico. To be located on Puerto Rico's southern coast, the facility would provide cargo services between Puerto Rico and the United States, Caribbean, Europe, Central and South America, and Asia.

"The Port of the Americas will provide a central geographic location that will allow clients to optimize their supply chains and deliver value to their customers," said Edgardo Torres-Caballero, deputy secretary of Puerto Rico's department of economic development and commerce, in a prepared statement. "Coupled with the island's economic and political stability, level of economic development and strong infrastructure, the port will put Puerto Rico in a position to offer a significant advantage as an integrated transshipment/import/export hub and Free Trade Zone."

Puerto Rico also recently contracted real-estate development firm CB Richard Ellis to help the island develop business parks adjacent to the port.

Proposals are due to the port authority by June 1. The authority's board expects to select a winning proposal and begin construction by year end. Scheduled to be completed by 2006, the port would be financed through a joint public/private venture.

For more information on the RFP, call Shannon Vezina at 202-326-1773.