Peru: TIL Buys 29 Pct Stake in APM Terminals Callao
- Business & Finance
APM Terminals and fellow Dutch-based global terminal operator, Terminal Investment Limited (TIL), announced the completion of the purchase of a 29% share in APM Terminals Callao by TIL through the acquisition of Callao Port Holding B.V.
APM Terminals assumed operational control over the Callao facility in July 2011 under a 30-year concession together with the Unimar Group of Peru holding 20%, and is currently performing a major $749 million upgrade and expansion to create a new major hub port on South America’s west coast.
APM Terminals and TIL are also currently joint venture partners in FOS 2XL in France and in the new Brasil Terminal Portuário (BTP) facility, which was formally inaugurated in November 2013 in the Port of Santos, Brazil – South America’s busiest container port.
“We are always looking for new ways to develop synergies and create partnerships which benefit our customers, and in that spirit we are very pleased to welcome TIL to APM Terminals Callao,” said APM Terminals Latin America CEO Joe Nicklaus Nielsen.
“Acquiring an interest in APM Terminals Callao is a natural progression for TIL as MSC Mediterranean Shipping Co. is the terminal’s largest container customer,” said TIL’s CEO Vikram Sharma.
In addition to FOS 2XL, BTP and APM Terminals Callao, TIL holds interests in 25 other terminal facilities in 18 countries in Europe, Asia, the Americas, West Africa and the Middle East. TIL handled around 15.5 million TEUs (weighted by equity share) in its global portfolio of terminals in 2013.
APM Terminals Callao is being developed into a modern multipurpose terminal for containers, general cargo, Ro-Ro cargo, break bulk and cruise ships. Work on the expansion started in October 2012 and at full build-out the terminal will be able to handle 2.9 million TEUs and 15 million tons of non‐containerized cargo. Phase I and II construction began in March 2013.
In 2013, the Port of Callao, Peru’s largest container port, and the busiest container port of the west coast of South America, handled approximately two million TEUs, a volume which has been projected to double to 4 million TEUs by 2018. The Unimar Group will continue in the partnership with 20% shareholding, TIL will hold 29% and APM Terminals 51%.
Press Release, March 3, 2014