SAAM gains 100% control of Chilean terminal

Through its subsidiaries SAAM Puertos and SAAM Inversiones, SAAM acquired a 15 percent interest in Iquique Terminal Internacional (ITI) from Grupo de Empresas Navieras, and now controls 100 percent of ITI, according to the port terminal operator.    SAAM, through its subsidiaries SAAM Puertos and SAAM Inversiones, acquired a 15 percent interest in Iquique Terminal Internacional (ITI) in northern Chili for $11.05 million from Grupo de Empresas Navieras (GEN), according to a statement from the port terminal operator.
   SAAM said it now controls 100 percent of ITI.
   ITI holds the concession at the Port of Iquique until 2030. The multipurpose terminal has two docks measuring a combined 624 meters, which have received post-Panamax vessels 348.5 meters in length.
   The terminal mainly provides services to the Iquique Free Trade Zone, Bolivian foreign trade and the mining industry in the Tarapacá region.
   According to the company’s website, SAAM is currently the second-largest port operator in South America, the largest towage services provider in South America and the fourth-largest towage services provider in the world.