Manila-based port operator International Container Terminal Services, Inc. (ICTSI) and global port operator group PSA International (PSA) have formally opened Puerto Aguadulce, a joint venture terminal in the Port of Buenaventura, Colombia.

The first phase of the USD 550 million multi-user container and bulk handling facility can handle mega container vessels with capacities of up to 18,000 TEUs, and is seen to further spur the Colombian economy. Puerto Aguadulce is operated by Sociedad Puerto Industrial de Aguadulce, the joint venture company of ICTSI and PSA.

“We have always been bullish on Colombia and believe that its economy is a key driver in pushing the Latin American market into the future. Exports from Colombia such as coffee and sugar remain in high demand. We at ICTSI want to be a partner in the country’s economic journey by offering top-notch port equipment, facilities and technology to facilitate this growing economy,” says Martin O’Neil, ICTSI Executive Vice President.

“The terminal is ideally positioned to be a hub for international trade. It was built and designed to meet the current and future requirements of customers and partners, with whom we are going to work with to offer high levels of services and productivity,” says Miguel Abisambra, Puerto Aguadulce CEO.

ICTSI and PSA signed the agreement to jointly develop, construct and operate the terminal and its ancillary facilities back in September 2013.

The terminal had its soft opening late in November last year, servicing its first container vessel – the MSC Sasha.

Puerto Aguadulce is equipped with neo post-Panamax quay cranes and can service new generation container vessels with capacities of up to 18,000 TEUs.

Under its first phase development, the terminal has an annual handling capacity of 550,000 TEUs operating two container berths. The bulk terminal, on the other hand, is set to have a capacity of two million tons annually.