APMT, Compas S.A. finalize joint venture in Colombia

APM Terminals and Compañia de Puertos Asociados S.A. (Compas S.A.) finalized a new joint venture, Cartagena Container Terminal Operator, to jointly manage and operate Compas S.A.’s existing multipurpose terminal in Cartagena, Colombia.    APM Terminals and Compañia de Puertos Asociados S.A. (Compas S.A.), a Bogotá Colombia-based port and terminal operating company, finalized a new joint venture, Cartagena Container Terminal Operator (CCTO), to jointly manage and operate Compas S.A.’s existing multipurpose terminal in Cartagena, Colombia, APMT said.
   Compas S.A. will continue to be the concession holder, however APMT will hold a 51 percent majority share in the operation.
   The terminal currently has the potential to handle 250,000 TEUs and 1.5 million tons of general cargo a year.
   CCTO and Compas S.A. will jointly invest over $200 million to upgrade and expand the terminal. Investments will triple the terminal’s annual throughput capacity and allow it to handle vessels up to 13,000 TEUs.
   APMT has other operations across South America in Callao, Peru; Buenos Aires, Argentina; and Santos, Pecém, and Itajaí, Brazil. In addition, the container terminal operator is in the process of building a terminal in Lazaro Cardenas, Mexico, which will open later this year; and a terminal in Moín, Costa Rica, which will open in 2018.