The terminal operating company signed a joint venture with Bogotá-based Compañia de Puertos Asociados S.A., to jointly operate the Cartagena Terminal, which they will upgrade and expand.
APM Terminals has entered a joint venture with Bogotá, Colombia-based port and terminal operating company, Compañia de Puertos Asociados S.A. (Compas S.A.), to jointly manage and operate Compas S.A.’s existing multipurpose Cartagena Terminal in Cartagena, Colombia.
Together, they will invest more than $200 million to upgrade and expand the terminal. Investments will triple the terminal’s annual throughput to handle larger vessels once the Panama Canal is widened.
Compas S.A. will continue to be the concession holder, however APM Terminals will hold a 51 percent majority share in the joint venture. The transaction will be subject to compliance with the relevant authorities.
APM Terminal has other operations across South America, including Callao, Peru; Buenos Aires, Argentina; and Santos, Pecém, and Itajaí, Brazil.
APM Terminals invests in Colombian terminal
