NOVA MEDIA PUBLISHING INC.

Costa Rica: Japdeva Gets ¢ 2.650 Million in Fees from APM

17.5.2019

Japdeva accounts show an accumulated value of ¢ 2,650 million as a result of the fee received from the Container Terminal of Moín, in accordance with the concession contract with Dutch company APM Terminals.

The money began to be transferred in October, when the operation of a single berth in the new dock began.

It has been estimated that Japdeva will receive ¢ 12,000 million in fees annually and after 33 years of port concession, it would be about USD 1,000 million.

Japdeva faces a crisis in their finances due to the loss of income and a huge uncertainty for the future of its 1,200 workers.

At the end of March, the government made changes in the Executive Presidency, to appoint a person more aligned with the Executive, that position was in the hands of Andrea Centeno.

APM officially opened the Container Terminal in Moin last February.

The concession contract signed by the Government of Costa Rica, Japdeva and APM Terminals, obliges the Dutch firm to transfer 7.5% of the TCM's monthly profits to the state port company.

From October to date, it has served 260 container ships. The main products that have come out through the TCM are pineapples and bananas, which represent approximately 60% of exports.

APM Terminals has paid ¢ 296 million to the local government as a municipal patent. Annually that figure could grow to about ¢ 800 million.

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