APM Terminals in Callao, Peru

'Although APM Terminals first offered investments of US$1.9bn, it was awarded the concession for US$750mn,' a press release from congress quoted committee member Eric Wong as saying.

The vice president of Peru’s congress, Manuel Merino, has called for the cancellation of the concession contracts for Callao port’s Muelle Norte terminal and Paita port following claims of alleged flaws in the tender process.

The country’s private investment promotion agency, ProInversión, awarded the concession for Callao’s Muelle Norte terminal to Dutch-based port operator APM Terminals in April 2011, while local concessionaire Terminales Portuarios Euroandinos (TPE) has operated Paita port since September 2009.

“Although APM Terminals first offered investments of US$1.9bn, it was awarded the concession for US$750mn,” a press release from congress quoted committee member Eric Wong as saying.

The congressional transport committee will now evaluate the claims and decide whether to pass the matter on to congress.

From Business News Americas