APM Terminals and fellow Dutch-based global terminal operator, Terminal Investment Limited (TIL), have announced the completion of the purchase of a 29% share in APM Terminals Callao by TIL through the acquisition of Callao Port Holding B.V.
APM Terminals assumed operational control over the Callao facility in July 2011 under a 30-year concession together with the Unimar Group of Peru which holds 20%, and is currently performing a major $749-million upgrade and expansion to create a new major hub port on South America’s west coast, notes an APM Terminals statement.
APM Terminals Callao is being developed into a modern multipurpose terminal for containers, general cargo, Ro-Ro cargo, break bulk and cruise ships. Work on the expansion started in October 2012 and at full build-out the terminal will be able to handle 2.9 million TEUs and 15 million tons of non-containerised cargo. Phase I and II construction began in March 2013.
