APM Terminals – the port arm of Danish shipping group AP Moller Maersk– has apparently won a contract to build and operate the US$1.1bn Muelle Norte pier terminal at the Port of Callao in Peru’s capital Lima.
According to a report by Bloomberg, Maersk beat Hong Kong-based Hutchison Whampoa by offering a bigger discount for services, state investment promotion agency ProInversión revealed at a ceremony in Lima.
The concession will significantly reduce costs at Callao, which handles 45 per cent of Peru’s cargo, and the majority of the country’s fresh produce trade, the report said.
The Peruvian government has targeted growth at the Muelle Norte at the Port of Callao as the country’s export business continues to thrive.
“Investors feel that the next government will have to respect their rights,” Finance Minister Ismael Benavides told reporters in Lima. “Peru is trailing the region in port modernisation as everybody’s awarding concessions.”
Maersk and the US$600m Muelle Sur pier, operated by DP World, will compete to handle grain imports and exports of metals, natural gas, fishmeal, coffee and fresh produce, according to ProInversión.
