Peru's Muelle Norte, or North Dock on the right, is among APM's targeted terminals. Exports to Asia are quickly increasing in Latin America.
Executives at APM Terminals, one of the world’s top port operators, said they are investing heavily in Latin America because the region’s pace of growth in container traffic trails only China.
It is investing $1.7 billion in two new projects in Latin America, whose commodities exports to Asia have turned many of its economies into some of the fastest-growing in the world.
The company expects to be granted a concession next week to modernize the northern part of Peru’s main port, Callao, for $750 million.
In late July or early August it also plans to sign a contract with Costa Rica’s government to operate a new container dock at the Limon Port for 33 years. At nearly $1 billion, that will be one of the largest investments in the Central American country.