APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A. (Compas S.A.) have established Cartagena Container Terminal Operator (CCTO), a joint venture which will manage and operate the existing multipurpose facility formerly operated as the Compas S.A. Cartagena Terminal, in Colombia’s second-busiest container port, located at the northern tip of South America on Colombia’s Caribbean coast. APM Terminals will hold a 51% majority share in the operation, which at present offers annual throughput capacities of 250,000 TEUs and 1.5 million tons of general cargo.
CCTO will invest over USD $200 million in upgrading and expanding the facility to triple annual throughput capacity, and enable the terminal to handle the vessels of up to 13,000 TEU capacity which will be able to transit the Panama Canal after the lock-widening project is completed later this year. The facility is the sixth operational Latin American facility within the APM Terminals Global Terminal Network, which includes interests in operating port facilities in Callao, Peru; Buenos Aires, Argentina; and Santos, Pecém, and Itajaí, Brazil. APM Terminals’ Latin American interests handled an overall combined container throughput of over two million TEUs in 2015.