San Antonio Terminal Internacional (STI) will invest US$46m to extend its concession at the Port of San Antonio in Chile.
STI and Puerto San Antonio (EPSA) signed an amendment to the Concession Agreement to develop a new investment plan that, once complete, will extend the concession for five more years to 2030.
“The agreement calls for replacing construction of an esplanade considered initially in the possible extension with contributions of equipment, infrastructure and technology that will help improve STI along three dimensions: dock, yard and gate, boosting capacity by approximately 30% to around 1.6 million TEUs/year,” said SAAM Puertos, which has a 50% share in STI.
Extensive deal
The agreement involves US$46.6m in investments, including two STS cranes and two RTG cranes, six reach stackers, 26 new trucks, eight chassis, new civil infrastructure and technology.
The investments are scheduled to start in 2021 and must be received and approved by Puerto San Antonio no later than the end of 2024.
SAAM is a multinational corporation providing services for international trade through its three divisions: Port Terminals, Towage and Logistics. With 59 years in business, SAAM has operations in 12 countries in North, Central and South America, and is one of the leading port operators and provider of towage services in the Americas.
SSA Marine also has a 50% in STI. SSA Marine is the largest operator of marine and rail terminals in the US, operating across five continents. It was founded in 1949 and currently has 250 locations, particularly along the east coast of the Pacific.
