Maersk unit to develop port in Costa Rica
Published March 23, 2012
Maersk unit to develop port in Costa Rica
(COPENHAGEN) APM Terminals, the port operating arm of Danish oil and shipping group A P Moller-Maersk yesterday said it had won a concession in Costa Rica to develop a port, carrying an investment of about US$992 million.
The 33-year concession was agreed with the government of Costa Rica for the design, finance, construction, operation and maintenance of the container terminal in the Caribbean port of Moin, APM Terminals said.
The port handles up to 80 per cent of the country’s international commerce, and is located 10 hours by sea from the Panama Canal.
The new port development comes at a time when the canal is being expanded to handle the larger vessels cascading into the region, the company said.
Inauguration of the first phase was expected in the fourth quarter of 2016, it added. — Reuters