APM bets big on Central America
Tuesday, November 28, 2017
In Guatemala, APM Terminals has added four routes to the Pacific Port of Quetzal while increasing capacity to 170,000 40-foot containers, since starting operations last year.
Quetzal is 100 kilometers from Guatemala City, compared with 500 kilometers between the capital and Puerto Barrios on the Caribbean coast.
The $180 million investment is an 85%-15% joint venture between APM Terminals and the International Finance Corporation.
In Costa Rica, APM will over the next few months bring cranes and tugboats to Limon on the Caribbean coast, ahead of the expected start of operations in February, 2018 of a $1 billion container terminal, built and run by the company as a 30-year concession.
With a depth of 15 meters, Limon will be Central America's sole deepwater port north of Panama.
A division of Denmark-based Maersk Group, APM Terminals is one of the world's largest port operators, with more than 75 facilities on five continents.
Hague-based APM last year reported revenue of $4 billion.