The threeberth installation to be known as Santa Caterina Container Terminal, is due to open in early 2007. With a draught of 16 metres it will be able to handle vessels of up to 9,000TEUs. Annual capacity will be in the region of 300,000 containers in the first phase of development handled at a 350,000 sq metre yard. 70% of the cost is being met by the Battistella conglomerate and 30% by the aforementioned Brazilian line which forms part of the Hamburg Sud group. A US$56m loan has been taken out from the Interamerican Development Bank (BID) to finance much of the work.
Commenting on the merger, general manager of SPRC, Alfonso Salas noted that it had been a reaction to the recent signing of the regional Free Trade Agreement, as well as to the resurgence in the Colombian economy; and in trade between countries in the Caribbean, which he observed required better maritime links. In the next 10 years, investment totalling US$300m is expected to be made in the port and will help Cartagena complete with regional rivals in Panama, the Bahamas and Jamaica.
