APM Terminals has announced that its Moin Container Terminal (TCM) Concession Agreement with the Government of Costa Rica has received its final endorsement from Costa Rica's Comptroller General Office.
With this endorsement, the group has said that it will begin an 18-month implementation phase, during which it will perform final studies design work, which also has to be passed on to the Costa Rican government for approval. This will be followed by dredging across the channel and the turning basin, and the start of reclaiming the island terminal site.
"APM Terminals is very pleased with the pace and dedication with which the Costa Rican government has focused on advancing this project," said Paul Gallie, managing director of APM terminals. "The administration has demonstrated this is a top priority and we intend to follow through on inaugurating the first phase of this project on schedule in 2016."
Designed as a gateway to handle Costa Rica's increasing containerised exports and imports, the TCM project will require an estimated investment of US$992m (€749m) from APM for the design, finance, construction, operation and maintenance of the terminal, which will be the largest single infrastructure project in Costa Rica.
"We are a global specialist in terminal development and operation who have built similar projects on schedule, so we’re very confident we can exceed the Costa Rican people’s expectations with this concession," Gallie added. "Modern container terminals play a pivotal role in improving the efficiency of the logistics chain which results in a lower door-to-door transportation cost. This will have a key positive impact, especially for the fruit export trade."
The terminal is expected to generate over 1,000 jobs, and, at full build, will have an area of 80ha.