The port of Cartagena
By the Caribbean Journal staff
One of the region’s busiest ports is getting an upgrade.
APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A (Compas) have signed a joint venture agreement to jointly manage Compas’ existing multipurpose Cartagena Terminal on the Caribbean coast of Colombia.
The joint venture will be investing more than $200 million in upgrading and expanding the terminal, including new art terminal equipment.
The upgrade will triple annual throughput capacity for the terminal to handle larger vessels transiting the expanded Panama canal.
“Colombia represents one of the most promising investment opportunities in the region and we are pleased to participate in the country’s ongoing economic growth and development,” said APM Terminals CEO Kim Fejfer. “Cartagena has enormous significance in South America ports and this JV underlines APM Terminals growth and investment plans.”
Cartagena was the second-busiest container port in South America last year, and the fifth-biggest in the region.