The so-called Mega 2017 project is being implemented in two phases at a total cost of $1bn. The aim is to increase the speed with which post-panamax vessels can be handled by adding a seventh gantry crane and thereby boosting exports.
A major dredging programme, which will increase the draft by up to 16m, could mean that, by 2017, the port could be handling 5m teu thanks to the expanded Panama Canal.
At Barranquilla up to $600m could be invested by the Bocas de Ceniza company to create a major hub port. If everything goes according to plan, work on this project will start at the latest by January 2014, with environmental clearance and operating licenses already being in place.
Two large European and one Asian operator have been linked with the project.