Operator signs JV agreement to manage Colombian terminal

APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados SA (Compas SA), have signed a joint venture agreement to manage and operate the multipurpose Cartagena Terminal.

APM Terminals and Compas SA will jointly invest over US$200 million in upgrading and expanding the Cartagena Terminal. The upgrade will triple annual throughput capacity for the terminal to handle the larger vessels transiting the widened Panama Canal.

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

The Compas SA Cartagena Terminal has an annual throughput capacity of 250 000 TEUs and 1.5 million tons of general cargo. It has become the sixth operational Latin American facility within the APM Terminals global network.