“This is a great day for us and for the Port of Callao and Peru” said APM Terminals Callao Managing Director Henrik Kristensen, adding “our investment in expansion and personnel will make this terminal one of the busiest and most important ports in Latin America”.
The concession contract finalised on May 12th called for APM Terminals to assume operational control of the terminal within 60 days of signing the concession agreement. On May 1st the Government of Peru had named APM Terminals Callao the winner of the bidding process. The terms of the concession include the investment of USD749 million to update and expand the existing facility into a modern multi-purpose terminal serving general, Ro-Ro, break bulk and containerized cargos as well as cruise ships.
Planned improvements by APM Terminals include the purchase and installation of 12 new post-Panamax STS cranes and 36 new RTGs at the terminal. Other investment, such as a new grain silo, will increase in annual capacity to 2.9 million TEUs and 9.9 million tonnes of general cargo over the next decade. When built out to full capacity, Terminal Muelle Norte will employ approximately 1,500 personnel. The Peruvian economy grew by 8.7% in 2010, for a GDP of USD277 billion, the 5th-largest economy in South America. Peru’s largest trading partners are the USA and China.