Costa Rica megaport spinoffs
The planned construction of a container terminal on Costa Rica’s Caribbean coast, means the creation of demand for various projects in the town of Limón. For its part, Netherlands-based APM Terminals has been awarded a 33-year build-operate concession for the port, construction of which is scheduled to start in September 2013, with an initial investment of $500 million, followed by additional phases in the future, valued at a similar amount.
The new facility will create jobs in management, information technology and security, among other areas. The result means increased revenue in Limón, one of the country’s poorest regions. New income will in turn create demand for various services, including housing and commerce. Currently, Limón does not have a single commercial center, movie theater or auto dealership, such that prospective vehicle buyers must go to San José, three hours away.
The likelihood of the terminal project going forward is high, following a court decision earlier this month, which rejected a claim by banana exporters and union workers in the existing port, who said the process of awarding the concession was illegal.
- Commercial centres
- Medical facilities