TCB had to compete against other international operators, including APMT and DPW, for the contract, which has a duration of 30 years. Its investment in the terminal will exceed US$220m. The new Buenaventura container terminal will double the port’s current capacity. The only terminal currently in operation is run by SPRBUN, with a capacity of around 625,000 teu.
CPIBSA owns land next to the sea in Buenaventura city and has the permits and authorisation required to proceed with construction of the wharf and management of the new project. Construction of the terminal will begin shortly, with an initial phase consisting of a 414 m section of wharf, which will eventually be extended to 783 m. There will be a yard area of 16 ha, which will be extended to 31 ha.
The new terminal in Colombia consolidates TCB’s presence in Latin America; it already has terminals in Brazil, Cuba and Mexico. Buenaventura is strategically well located for international shipping lines, lying near to the Panama Canal and being South America’s closest port to the Far East. It is the leading port on the Pacific coast, and handles 80% of Colombia’s coffee exports and 60% of its total exports.