APM gets green light in Costa Rica
PORTS: APM Terminals’ Moin Container Terminal has received final endorsement from Costa Rica’s Comptroller General Office. With this, APM Terminals will be able to start the 18-month implementation phase.
”APM Terminals is very pleased with the pace and dedication with which the Costa Rican government has focused on advancing this project. The administration has
demonstrated this is a top priority and we intend to follow through on inaugurating the first phase of this project on schedule in 2016” said Paul J. Gallie, Managing Director, APM Terminals Moin, S.A.
The 33-year concession will require an estimated investment of USD $992M from APM Terminals for the design, finance, construction, operation and maintenance of the world-class container terminal in the Caribbean port of Moin, Limon Province, representing the largest single infrastructure project in the country.
Currently the Caribbean port handles up to 80% of the country’s international commerce.
“We are a global specialist in terminal development and operation who have built similar projects on schedule, so we’re very confident we can exceed the Costa Rican people’s expectations with this concession. Modern container terminals play a pivotal role in improving the efficiency of the logistics chain which results in a lower door-to-door transportation cost. This will have a key positive impact, especially for the fruit export trade.” assured Gallie.
The overall goal of the project is to develop and provide world-class marine terminal container handling services, increasing the competitiveness of Costa Rica’s international commerce.
Designed as a gateway terminal to handle Costa Rica’s increasing containerized exports and imports, the TCM is ideally located just 10 hours by sea from the Panama Canal and coincides with the Canal expansion to handle the larger vessels cascading into the region. Larger, modern vessels offer economies of scale, environmental efficiencies and additional reefer stowage.
The terminal is expected to generate over 1,000 jobs and stimulate rapid economic development in the entire Caribbean region of the country. Further commercial developments and Free Trade Zone investors, and manufacturers looking for an attractive labor pool as well as low cost logistic distribution points will be attracted to the port hinterland.
Souce: APM Terminals / maritimedanmark.dk
