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Government inaugurates new billion dollar port in Limón |
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 By the A.M.
Costa Rica staff
The inauguration of APM Terminals Moín* today will allow products to be shipped on transatlantic routes to European and Asian markets without transshipment. The project represents a total investment of $1 billion and is built on a 40-hectare artificial island. The terminal will also move Costa Rica to number 1 for connectivity, out of 139 countries ranked by the World Economic Forum. The terminal has a 650-meter long pier and a container yard with the capacity to hold 26,000 TEUs (Twenty-foot Equivalent Units), including power connection capacity for 3,800 refrigerated containers. Refrigeration is essential as Costa Rica is currently the world’s largest exporter of pineapples and third largest exporter of bananas. According to President Carlos Alvarado, “one of the goals of the Costa Rican government is job creation with a territoriality approach and, with this project that we are inaugurating today, the conditions of competitiveness and economic reactivation are being created for the province of Limón and also for the entire country.” "At APM Terminals we partner with governments to become the best port operator in the world and Moín is a great example. Without any doubt, we are inaugurating today a new era in international and intra-regional trade in Central America,” said Morten H. Engelstoft, CEO of APM Terminals. Moín starts operations with 650 employees, mostly trained thanks to an agreement with the National Institute of Learning. A socio-economic impact study, validated by the Central American Academy, stated that the greatest potential of the port lies in the generation of 147,000 indirect jobs nationwide in the next decade. APM Terminals will also make a contribution, as 7.5% of their net income will be paid to the Board of Port Administration and Economic Development of the Caribbean. This will equate to approximately $ 20 million on an annual basis. According to Kenneth Waugh, Managing Director of APM Terminals Moín, “we are proud that the country has trusted APM Terminals with the mission of developing and operating this amazing port, a concession that also brings socioeconomic opportunities to the community, the country, and the region.” |
 APM Terminals courtesy photo The
project represents a total investment of $1
billion and is built on a 40-hectare artificial
island.
The region will attract a very high percentage of the ships that transit through the Panama Canal. The number of shipping routes that reach the Moín Container Terminal is projected to increase by as much as 285 percent. In alignment with the company's strong commitment to safety and security, the Terminal has the most modern scanner in Latin America for cargo inspections. The six gantry cranes and the 29-yard cranes represent a $110 million investment and will allow the terminal to continuously perform an average of 180 movements per hour for loading and unloading. These efficiency standards will significantly reduce vessel service times from 40 hours (average time in other docks) to just 15 hours. APM Terminals trained a key team of operators and technicians at some of its other terminals with high container traffic in Egypt, Brazil, and Morocco. Should the government have more agreements with multinational companies for the national development? We would like to know your thoughts on this story. Send your comments to: news@amcostarica.com *Link to reach the place on map. |
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