APM Terminals Signs $1 Billion Concession for Costa Rican Port

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.