Costa Rica mulling options for Moín terminal fees

Costa Rica's Atlantic coast port authority Japdeva is studying how to use the revenue from the concession fees that APM Terminals will pay for operating a US$1bn container terminal at Moín port in Limón province.

The authority's idea is to set up a trust to manage the funds. Japdeva officials are currently seeking the advice of the comptroller general to launch a direct contracting process to choose a bank to manage the trust, the government said in a release.

Japdeva officials are also drafting a portfolio of projects that could be developed in Limón with financing from the fees. The authority has asked for the planning and economic policy ministry for assistance in carrying out pre-investment studies for a cruise terminal, a marina and an electric freight railroad.

The first fee to be deposited into Japdeva's account, corresponding to the payment for November operations, will be US$134,105.

APM Terminals, a subsidiary of Danish group Maersk, was awarded a 33-year concession contract to build and operate the container terminal in 2011.

The first operations began early November after receiving approval from the concessions council.