Dutch company APM Terminals and Colombia-based Compañia de Puertos Asociados, or Compas, said they plan to jointly invest more than $200 million in upgrades and equipment at Colombia’s Caribbean port of Cartagena, whose capacity is to be boosted to handle post-Panamax ships.
Under the terms of the deal to jointly manage and operate the port, Compas will remain the concession holder of the Cartagena Terminal while APM will hold a 51 percent stake in the joint venture.
The deal marks APM Terminals’ entry into the Colombian market, the sixth country in Latin America in which it has launched operations.