April 3, 2017: San Jose, Costa Rica: Costa Rica is one step closer to developing a world-class container transshipment terminal on the Caribbean coast, near the current shipping and cruise port of Limon. The port will have the capacity to accommodate the largest container ships currently in operation or on order, including those that are too large to pass through the expanded Panama Canal.

The Mega-Terminal of the Atlantic Project (MTA) constitutes the first stage of Americas Gateway Development Corporation (AMEGA Ltda) long term strategy to develop a “dry canal” across Costa Rica. When completed, the Atlantic terminal will be linked by a railway to a similar terminal port on the Pacific coast.

The MTA is supported by the Government of Costa Rica and has been determined to be of significant public interest. This terminal will allow Costa Rica to attract substantial foreign investment and will position the country as a global logistics leader.

The Inter-American Development Bank (“IADB”) concluded that Costa Rica is the most suitable Caribbean country for a transshipment hub in the Caribbean. The Government of Costa Rica has concluded that the MTA Project will meet global shipping demands and will establish Costa Rica as a leading global shipping and logistics hub.

On February 3, 2017, the Government of Costa Rica formally announced that AMEGA Ltda received the Notice to Proceed with the Proposition Phase of the project development which includes Environmental Impact Studies (EIS), Financial Analysis, the Front-End Engineering Design (FEED) and Engineering Procurement Construction Contract (EPC) for the new transshipment terminal.

POWERCHINA is a dominant force in the global infrastructure construction industry. POWERCHINA’s extensive global construction expertise and Moffat & Nichol’s renowned worldwide marine engineering experience will ensure that the Proposition Phase and construction are completed efficiently and to the highest international standards. Further, AMEGA Ltda has a very strong local team of Costa Rican investors and stakeholders who, including IBG Global Advisors, CDG Environmental Advisors and Grupo CMA, will ensure success.

The MTA Project is the first public works project in Costa Rica to be approved of under the Private Initiative Laws of Costa Rica. AMEGA Ltda has the exclusive right to lead the project through the Proposition Phase to a public bid for a 34-year concession to build and operate the port.

“The MTA Project will be a huge success because it proactively addresses the anticipated future transshipment shortfalls in the Caribbean,” said Aubrey de Young, Chief Executive Officer of AMEGA Ltda.

For More Information about the MTA Project, please contact Patrick Goodness, VP Communications & Marketing with AMEGA Holdings, Inc.

Email: [email protected]