The Costa Rican Regulatory Authority for Public Services (Aresep) justified the rates of a new container port in Moin, which are more expensive than those currently charged by the Caribbean terminal of the Board of Port Administration and Economic Development of the Atlantic (Japdeva).
This allegation was raised during the second day of the trial against the State for the concession granted to the company APM Terminals to build a new terminal in Puerto Limon.
Carolina Alvarez Murillo, an economist of the Aresep, explained that the rates are higher than originally anticipated because the costs were adjusted for port operations.
The witness called by the defendant, also said that the State is not required to indemnify APM Terminals (concessionaire of the dock) if it does not meet the minimum volumes of cargo estimated in the contract.
Carolina Murillo added that the port charges are not adjusted for imbalances in the concession, but for annual inflation updates.
In the counterattack, the National Chamber of Banana Growers, who sued the State over this project, argued that the conditions favor the operator, of Danish origin.
According to Randall Quirós, attorney for the banana growers, although the rates are not adjusted every time the operator so desires, the state did increase the internal rate of return (future returns on investment), to pass from 15% to 17.5% for APM Terminals.
“So, watch what is lost,” added Ronaldo Blear, port union secretary that is also demanding an annulment of the award.
This post is also available in: Spanish