The following release was published by SAAM:
Empresa Portuaria San Antonio (EPSA) confirmed that the company had fulfilled the agreed conditions and will continue to operate for five more years.
Empresa Portuaria San Antonio (EPSA) filed a Material Event with the Financial Market Commission (CMF), informing that San Antonio Terminal Internacional (STI) had met the investment conditions agreed in 2020 and, therefore, its concession will be extended until January 1, 2030 (the second extension since the concession originally ended in 2020).
“In recent years we have implemented an intensive capex plan, investing US$66 million, of which US$47 million was to extend the concession. This not only lets us continue to operate the port, but also to continue delivering excellent, safe service for foreign trade, positioning San Antonio Terminal Internacional as the most efficient, most important port in Chile and one of the leading ports in the Southern Cone,” said STI general manager Andrés Albertini.
“STI’s concession has been extended because it complied with the contract. For 24 years, it has successfully contributed to the Port of San Antonio’s growth. In addition, I would like to highlight our proven ability to build public-private agreements, which preserves San Antonio’s leading position and its importance as a strategic hub for Chile’s foreign trade. In this particular case, each of the concessionaire’s investments have made the terminal and the entire logistics chain more efficient and more competitive,” said Ramón Castañeda, general manager of the Port of San Antonio.
Investment breakdown
The agreement called for equipment, infrastructure, and technology investments to improve three dimensions: dock, yard, and gate, boosting capacity by approximately 30% to around 1.6 million TEU/year.
In aggregate, the contractual investments and additional contributions totaled US$66 million. Per the contract, STI invested in two STS cranes, two RTG cranes, 27 new reefer towers, six reachstackers, 26 new terminal tractors, new civil infrastructure and technology, among others.
The additional equipment purchased included a new empty container handler, 13 reachstackers and 24 terminal tractors.
Source: SAAM