APM Terminals gets go-ahead for TCM project in Costa Rica
The Costa Rican courts ruled today in favor of APM Terminals in two lawsuits, brought against the company and the government, which were intended to block the awarded concession for the new Moin Container Terminal (TCM), the Company press release said.
“Today’s favorable decision from the Second Circuit Court in San Jose affirms the transparency and legality of the concession process. It further demonstrates the experience and professionalism of APM Terminals in competing for and winning the 33-year concession to design, finance, construct, operate and maintain the TCM.” declared Capt. Paul Gallie, Managing Director, APM Terminals Moin, S.A.
Project on track
“The implementation of the TCM project is currently on track and during this transition period APM Terminals will perform the required detailed environmental and engineering studies in order to produce the final design and gain the statutory licences and permits. These will be submitted for Government approval, prior to construction start in 2013.” Gallie added.
The TCM is expected to boost Costa Rica’s long term economic growth and global competitiveness. For the first time, the country will be able to take advantage of its proximity to the Panama Canal by servicing today’s modern fleet of much larger container ships. Costa Rica’s international commerce will benefit greatly, in terms of economies of scale and improved supply chain efficiency, with a world class container terminal operating at the highest global safety, security and productivity standards.
The TCM will be a catalyst for accelerated foreign and domestic manufacturing and logistics investments in Limon Province.
The TCM, a specialized container terminal, is part of a larger Japdeva master plan of modernizing the Puerto Limon / Moin port complex, which includes a specialized cruise ship terminal and marina, expansion of the petroleum terminal and improvements to the exisiting general-cargo berths at Moin. It is expected that all four specialized terminals will drive the country’s global competitiveness.
The concession contract calls for a USD $992.2M investment by APM Terminals, the largest single privately funded infrastructure project in the country. Currently, the Caribbean port handles up to 80% of the country’s international commerce.
TCM project phases
The first phase of the TCM project consists of a 40 hectares island 500 meters off the Caribbean coast, 600 meters of quay, two berths, a 1500 meter long breakwater, 16 meter deep channel and six super-post Panamax container gantry-cranes.
The installation will be of world class with carbon neutral energy sources, electronic security and container safety scanning technology. This will be complemented with safe and modern industry processes and trained personnel.
At completion the TCM will consist of an 80 hectares island with 1,500 meters of quay, 5 berths, 2.2 kilometer breakwater, 18 meter deep access channel and 9 super-post Panamax ship-to-shore gantry cranes.
Concession stages
30th August, 2011 --- Contract signature with the Government of Costa Rica
21st March, 2012 --- Contract endorsed by Costa Rica’s Comptroller General
18 months --- Transition period (studies, permits, final design, approval)
2013/4Q --- Construction Start
2016/4Q --- Operation Start
About APM Terminals – providing the port and inland infrastructure to lift global trade APM Terminals’ Global Terminal Network of ports and inland services provide the infrastructure for the growth of international trade, 90% of which travels by sea. International commerce is an economic growth engine, creating jobs, lifting economies and improving people’s lives around the world. With world headquarters in The Hague, Netherlands, the company’s core expertise is the design, construction, management and operation of ports, terminals and inland services with a Global Terminal Network of 62 port facilities in 36 countries and Inland Services operations in over 150 locations in 46 countries.