STI Empresa Portuaria San Antonio (EPSA) confirmed that Chile’s San Antonio Terminal Internacional (STI) had met the investment conditions set out in 2020 to earn an extension of its concession to January 1, 2030, according to Seatrade Maritime.
“In recent years we have implemented an intensive capex plan, investing $66m of which $47m was to extend the concession. This not only lets us continue to operate the port, but also to continue delivering excellent, safe service for foreign trade, positioning STI as the most efficient, most important port in Chile and one of the leading ports in the Southern Cone,” said STI general manager Andrés Albertini.
STI is the largest port in Chile and recently passed the 1m teu mark for the 13th consecutive year. "This year was challenging for our port and the Chilean economy, with lower volumes, which meant achieving this milestone later than prior years. We have the capacity for 1.6m teus per year, and we see a great future for our port to continue providing safe, efficient service," said Albertini.
The 1m teu mark was reached while serving the 347-metre Cherry Express, which docked at STI site 2 before a 21-day voyage bound for Asia. "STI's concession has been extended because it complied with the contract. For 24 years, it has successfully contributed to the Port of San Antonio’s growth," said Albertini.
The agreement called for equipment, infrastructure, and technology investments to improve three dimensions: dock, yard, and gate. The upgrades boosted capacity by approximately 30% to 1.6m teu. In aggregate, the contractual investments and additional contributions totalled $66m.
As per its contract, STI bought two STS cranes, two RTG cranes, 27 new reefer towers, six reach stackers, and 26 new terminal tractors, among other investments.