Netherlands-based terminal operator, Terminal Investment Limited SA (TIL), announced the completion of the purchase of a 29% share in APM Terminals Callao through the acquisition of the stake in Callao Port Holding B.V.

Following the acquisition, APM Terminals will hold a 51% stake in the Callao terminal, Peru's Unimar Group will control a 20% interest, while the remaining 29% share will be owned by TIL.

Vikram Sharma, TIL's CEO, stated:

Acquiring an interest in APM Terminals Callao is a natural progression for TIL as MSC Mediterranean Shipping Co. is the terminal's largest container customer

APM Terminals assumed operational control over the Callao facility in July 2011 under a 30-year concession together with the Unimar Group of Peru holding 20%. The facility is currently undergoing a US$749 million expansion, after which it will have a capacity to move 2.9 million TEU and 15 million tonnes of non"containerised cargo per year. This project will create a new major hub port on South America's west coast.

In 2013 the Port of Callao, Peru's largest container port, handled approximately two million TEUs. This volume has been projected to double to four million TEUs by 2018.

APM Terminals and TIL are also currently joint venture partners in FOS 2XL in France and in the new Brasil Terminal Portuário (BTP) facility, which was formally inaugurated in November 2013 in the Port of Santos, Brazil.