Dutch company APM Terminals has received final endorsement for its Moin Container Terminal (TCM) Concession Agreement with the Costa Rican Comptroller General Office.

The endorsement meands the company can now conduct an 18-month implementation phase, from which it will be able to submit studies and final design work to the government for approval.

If approved, the next stage would then involve dredging the access channel and the turning basin, as APM Terminals starts to reclaim the island terminal site.

"APM Terminals is very pleased with the pace and dedication with which the Costa Rican government has focused on advancing this project," said APM Terminals Moin S.A. managing director Paul Gallie.

"The administration has  demonstrated this is a top priority and we intend to follow through on inaugurating the first phase of this project on schedule in 2016."

The company plans to invest US$992 million in the 33-year concession for design, finance, construction, operation and maintenance.

The port, in the Limon province, currently represents 80% of  Costa Rica's international commerce.

"We are a global specialist in terminal development and operation who have built similar projects on schedule, so we’re very confident we can exceed the Costa Rican people's expectations with this concession," said Gallie.

"Modern container terminals play a pivotal role in improving the efficiency of the logistics chain which results in a lower door-to-door transportation cost. This will have a key positive impact, especially for the fruit export trade."

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