APM Terminals enters Colombia through South America’s 2nd busiest container portStaff writer ▼ | August 17, 2015
APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A. have signed a joint venture agreement to jointly manage and operate Compas S.A.’s existing multipurpose Cartagena Terminal.
Spreading 200 million for the Cartagena Terminal
While Compas S.A. will continue to be the concession holder, APM Terminals will hold a 51% majority share in the joint venture that will run the facility. The transaction will be subject to compliance with the necessary formalities with the relevant authorities.
“Colombia represents one of the most promising investment opportunities in the region and we are pleased to participate in the country’s ongoing economic growth and development. Cartagena has enormous significance in South America ports and this JV underlines APM Terminals growth and investment plans,” said APM Terminals CEO Kim Fejfer.
The Compas S.A. Cartagena Terminal has an annual throughput capacity of 250,000 TEUs and 1.5 million tons of general cargo. It becomes the sixth operational Latin American facility within the APM Terminals Global Terminal Network, which includes interests in operating port facilities in Callao, Peru; Buenos Aires, Argentina; and Santos, Pecém, and Itajaí, Brazil.
APM Terminals’ Latin American interests handled an overall combined container throughput of 2.1 million TEUs in 2014. ■