DP World was excluded from the bidding as it already operates the Muelle Sur terminal in Callao.

The Muelle Norte project forms part of the Peruvian government’s efforts to modernise its port infrastructure to meet the country’s growing trade needs. APM Terminals Callao will invest US$749M to transform the facility into a modern multipurpose terminal for containers, general, ro-ro and break bulk cargo as well as cruise ships.

The project involves modernising and upgrading docks 1, 2, 3, 4 and 5 at Peru’s busiest port. On full build-out, the terminal will be able to handle 2.9MTEU and 9.9 mt of non-containerised cargo annually.

“We are delighted that APM Terminals has been selected for this important national project by the leaders of Peru. It underlines the value our port expertise delivers to governments and customers whose focus is on meeting their commercial and operational objectives,” said Peder Sondergaard, APMT’s senior vice president and head of new terminals.

“We look forward to working with our Peruvian partner, Central Portuaria, and the Peruvian community, who will all be instrumental in the success of our local and national activities,” added Henrik Lundgaard Pedersen, vice president of business development for APMT in Latin America.

The concession contract will be signed by the end of April and APMT will take over the operations of Muelle Norte 60 days thereafter.