APM Terminals Signs $1 Billion Concession for Costa Rican Port

March 22 (Bloomberg) -- Dutch company APM Terminals BV signed a 33-year concession to build and operate a port terminal on Costa Rica’s eastern Caribbean coast, President Laura Chinchilla said yesterday.

Investment on the port expansion is valued at nearly $1 billion, making it the largest infrastructure project in the country’s history, she said to reporters in San Jose. When complete, the 80-hectare port will be able to process 2.5 million shipping containers a year.

More than 80 percent of the shipping volume in Costa Rica runs through the eastern ports of Limon and Moin, according to the Transportation Ministry.

To contact the reporter on this story: Adam Williams in San Jose, Costa Rica at awilliams111@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.