The Container Terminal Buenaventura (TCBuen) has started its second phase of expansion, a nearly $100 million project that will augment capacity at the terminal by 600,000 TEUs annually by early 2014.
The Colombian terminal is run by Spanish terminal operator Grup TCB, which started its operations there two years ago. In 2012, the terminal is forecast to handle 330,000 TEUs.
The second phase of the project "was planned for 2017, but market requirements led to its advancement," said Víctor Muñoz, general director of TCBuen. "We are planning to implement the next phases based on the market demand.”
The terminal is designed to reach 1.5 million-TEU capacity by the fifth stage of development.