Puerto Central, a unit of Chilean port company Puerto Lirquén, which operates Costanera Espigón terminal at San Antonio port in Chile, is planning to invest $500m to double the port's container handling capacity.
The company will build a new multipurpose terminal with a 15m draft to accommodate post-Panamax ships.
San Antonio's state port authority EPSA awarded the Costanera Espigón concession to Puerto Central in May. Puerto Central also has the option to extend the contract for another ten years.
Puerto Central will invest about $320m during the concession period, according to bnamericas.com.