Completion of the new container terminal at Moin in Costa Rica has been pushed back by a year and the expected opening date is now in February 2019.
The $1 billion project was previously projected to be ready for business in January 2018 but unforeseen events caused delays, as the concessionaire, APM Terminals (APMT) has informed its client the Costa Rican authorities.
Among the unforeseen events have been problems with the surface compaction of a 40-hectare artificial island, repairs in the breakwater and difficulties with the angles of 20 piles.
APMT, which has designed and will build, operate and maintain the Moin terminal, will lose between $50m and $60m because of the delay, in terms of fines, lost business and extra construction costs.
Work on the project, which began in January 2015, is approximately 70% complete, said APMT.
Moin is in Limon province on Costa Rica’s Caribbean coast.
This project entails construction of a rock breakwater, huge reclamation work and channel-dredging, plus building of a quay wall and other buildings and utilities.
It is forecast that the terminal, when finished, will quadruple the port of Moin’s capacity to 2.5m teus annually by the year 2030.