APM buys stake in 700,000 TEU greenfield port in Ecuador
APM Terminals has acquired a 51 percent stake in a greenfield port project in Ecuador, the terminal operator said Friday.
The Danish operator has acquired a majority share of Alinport S.A. from the Spanish Albacora Group. The parties did not disclose the purchase price.
Construction on Alinport will begin in early 2008, with operations expected to begin in late 2009. The first phase of the terminal has a 450-meter berth, 12.5 meters of water depth and an annual capacity of 700,000 TEUs.
APM has appointed Carl Ejler Jensen to run the terminal.