PSA International is a major player in the global port market with a presence in over 15 countries, and Latin American hubs in Colombia, Panama and Argentina. Construction is slated to begin on a US$400mn expansion of PSA Panama's International Terminal, which should be ready by end-2016. In Colombia, PSA holds a 45.7% stake in Sociedad Puerto Industrial Aguadulce S.A. terminal. Argentina's PSA operation is the only terminal capable of handling two post-Panamax vessels simultaneously. PSA is headquartered in Singapore.