The Callao expansion project
- APM Terminals Callao is a ‘brown field’ project, meaning it is an existing port that APM Terminals is expanding.
- It is a 30-year concession agreement that was awarded in April 2011. The terminal is being renovated and expanded in 5 phases, with approximately $200 million in investment during each phase.
- It is currently nearing completion of phases 1 & 2. All phases of the expansion are expected to be complete by 2021.
The $750 million terminal expansion project in APM Terminals Callao received some important hardware recently: 4 Super Post Panamax ship-to-shore cranes and 12 electric rubber-tire gantry cranes.
Addressing a crowd of more than 25 journalists and more than 100 staff and guests invited to celebrate the arrival of the cranes and the eRTGs, Managing Director Henrik Kristensen said “Today we can confirm we are on track to become the hub port for the West Coast of South America.”
The cranes enable Callao to receive the world’s biggest ships, which he explained would help turn Callao into a strategic distribution centre for cargo moving north and south in the region, both lowering costs and improving access to products and markets for all Peruvians, and helping stimulate job creation. (See video)
Building a balanced business
Callao is Peru’s most important port, handling 80% of the trade for a nation of 30 million that has seen its GDP rocket up more than 6.5% each year for the last five years, primarily due to exports of metals and minerals.