Chilean port, towage and logistics services provider SAAM has unveiled its plans to invest some US$85 million to reinforce its tug fleet and maintain port equipment and infrastructure.
SAAM Chairman Óscar Hasbún outlined the plan as part of its 2017 financial results, which included an 11 per cent increase in net income to US$60.4 million. It included US$26 million in extraordinary items, mainly from the sale of its minority interest in Tramarsa (Peru).
Mr Hasbún said increased activity at Terminals Guayaquil (TPG) and the incorporation of the main port on the Pacific coast of Costa Rica (Puerto Caldera) were among the highlights.
“In 2017 we concluded a high investment cycle with over US$500 million in capital expenditures over the last four years, giving us state-of-the-art infrastructure and equipment to continue growing,” said Mr Hasbún.
“This year we expect to invest close to US$ 85 million, which will be used to maintain our port equipment and infrastructure and reinforce our tug fleet.”
SAAM is a multinational corporation providing services for international trade through its three divisions: Port Terminals, Towage and Logistics.
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