APM Terminals, the port operating arm of Danish oil and shipping group A.P. Moller-Maersk said on Thursday it had won a concession in Costa Rica to develop a port, carrying an investment of about $992 million, Reuters reports. The 33-year concession was agreed with the government of Costa Rica for the design, finance, construction, operation and maintenance of the container terminal in the Caribbean port of Moin, APM Terminals said.
The port handles up to 80 percent of the country's international commerce, and is located 10 hours by sea from the Panama Canal.
The new port development comes at a time when the canal is being expanded to handle the larger vessels cascading into the region, the company said.
Inauguration of first phase was expected in the fourth quarter of 2016, it added.
The port handles up to 80 percent of the country's international commerce, and is located 10 hours by sea from the Panama Canal.
The new port development comes at a time when the canal is being expanded to handle the larger vessels cascading into the region, the company said.
Inauguration of first phase was expected in the fourth quarter of 2016, it added.