APMT invests in Colombia

APM Terminals (APMT) and the Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A. (Compas S.A.) have signed a joint venture agreement to jointly manage and operate the latter’s existing multipurpose Cartagena Terminal.

Together they will jointly invest over US$200m to upgrade and expand the Cartagena Terminal, including terminal new equipment, tripling its annual throughput capacity to enable the terminal to handle the larger vessels that will transit the widened Panama Canal.

While Compas S.A. will continue to be the concession holder, APM Terminals will hold a 51% majority share in the joint venture that will run the facility, subject to compliance with the necessary formalities with the relevant authorities.