The operator of Chile's key Valparaiso port opened international bidding for the rights to build a second major terminal, which will require an investment of $350 million.

The proposed terminal would expand the port's capacity by two thirds to 20 million tons annually. Construction is expected to begin in the second half of next year.

Last year 7.9 million tons of general cargo passed through Valparaiso, representing 25 percent of Chile's container traffic. (Reuters)