APM Terminals to invest $307 million in first two stages of Muelle Norte modernization

12 Jan 2012 - Port Planning

• APM pledges $307 million to Phase I & II of Peruvian terminal development

• Phases scheduled for completion in 2014

APM Terminals has announced that it will invest US$307 million in the first and second phases of the development of the Terminal Muelle Norte at the Peruvian Port of Callao.

$206 million will be invested in the first phase of the project, with $101 million being earmarked for the second.

The construction of the respective phases will take place between 2012 and 2014, according to Business News Americas.

APM Terminals signed a 30-year concession contract for the development and operation of Terminal Muelle Norte in May last year.

Under the concessional agreement, APM Terminals are obliged to provide a total investment of $749mn to develop the terminal over five phases, including the upgrade of  docks 1, 2, 3, 4 and 5.

The investment plan for the first two stages and the technical study for the project were presented to Peru’s National Port Authority earlier this week.

“Handing over of the technical studies is important because it's the final step before beginning work to modernize the terminal, which will improve service through providing more efficient operations and more space,” said Henrik Kristensen, Director of APM Terminals Callao.

APN, the national port authority, will now review the study over the next 30 days.

If the proposed expansion of Muelle Norte goes ahead as expected the length of the terminal would be increased to 560 meters. The extended quay wall will enable the terminal to install an additional three super post-Panamax gantry cranes.

Portable cranes will be delivered to the terminal to begin operation in May, with permanent cranes scheduled for delivery towards the end of 2013, according to Business News Americas.

The project will also provide the region with an additional 500 jobs, according to Kristensen.