Netherlands-based container terminal operator APM Terminals (APMT) is investing in Cartagena Terminal in Colombia as part of a joint venture with Colombian firm Compania de Puertos Asociados S.A. (Compas S.A.), which is also a terminal operator.
One of the biggest terminal operating companies in the world, APMT has terminals on five continents including five in the US. It will be the senior partner in the joint venture with a 51% holding.
The deal with Compas will see both firms combining to invest $200 million on upgrades at Cartagena.
It is estimated the improvements from investment will greatly increase the port’s cargo throughput by allowing it to serve the new breed of much bigger vessels.
Cartagena, on Colombia’s Caribbean coast, contains the country’s second biggest refinery and Colombia is Latin America’s fourth biggest oil producer behind Mexico, Venezuela and Brazil.