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Consortium APM Terminals Callao is expected to complete technical studies in March for the modernization of Peruvian port Callao's multi-purpose Muelle Norte terminal, according to transport regulator Ositran president Juan Carlos Zevallos.
When complete, the group will submit the studies to national port authority APN, which will have 30 days to review them. If all goes according to schedule, Ositran will approve the studies in May, state news agency Andina reported.
"In the meantime, the group must obtain a non-existence of archaeological remains certificate (CIRA) from the culture ministry to start work," Zevallos was quoted as saying.
The consortium took over operations at the port from national port company Enapu under a 30-year concession contract awarded March 30. The concession requires a total investment of US$749mn and involves modernizing and upgrading docks 1, 2, 3, 4 and 5.
Phases I and II will require a total investment of around US$340mn.
APM Terminals Callao is comprised of Dutch-based APM Terminals, Callao Port Holding and Central Portuaria.
Callao, adjoining capital Lima, is Peru's principal port.