APM Terminals will reportedly invest US$307m in the first and second stages of its modernisation project for the Terminal Muelle Norte (North Quay) at the Port of Callao in Peru between 2013 and 2015.
The Maersk subsidiary company official took control of operations at the terminal on 1 July and plans to invest a further US$442m between 2016 and 2020, according to a report by Andina.
APM operations manager Laurids Ugivig said that Phase 1 of the 2013-2015 investment will include modernising the pier, while Phase 2 will focus on modernising the silos and moorings.
Phases 3 and 4 will require the demolition of piers 1, 2, 3 and 5 as well as the purchase of new STS cranes and new RTG cranes.
“By Phase 5 we expect the capacity of the terminal to rise from 0.9m TEUs to 2.9m TEUs of containerised cargo and to 9.9m TEUs of non-containerised cargo,” explained Mr Ugivig.
In tripling capacity at the Port of Callao over the next 10 years, Mr Ugivig pointed out that the facility will be able to compete with others in the region and become one of the biggest ports in the world.
APM currently employs 750 workers and 600 stevedores but plans to increase its workforce as the terminal expands to meet demand.
The company signed the 30-year contract to develop and operate the Terminal Muelle Norte on 12 May.
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