The Instituto Costarricense de Puertos del Pacífico (Incop) has been instructed to revise the bidding terms for selecting the future concessionaire of Puerto Caldera.

The decision follows a ruling by the Contraloría General de la República, which upheld four objections filed by notable companies, including APM Terminals B. V., SAAM Puertos S. A., DP World CL Holding Americas Inc., and International Container Terminal Services, Inc.

The objections, according to the Comptroller's office, involved issues related to the timeline for submitting bids, financial models, tariff structures, applicable environmental regulations, risk distribution, alternative solutions, technical requirements, and the obligations of the concessionaire, among others.

Puerto Caldera has been facing operational challenges for several years, struggling to handle large vessels and operate efficiently within optimal timeframes.

The administrative resolution, announced on Tuesday, confirmed that most of the objections raised by the appealing companies were accepted, leading to amendments in the bidding process.

Incop now has the responsibility to implement the necessary changes to the bidding terms and set a new date for the submission of proposals.

The process, initiated last October, aims at modernizing the infrastructure and equipment of Puerto Caldera to address its ongoing operational challenges.

The modernization project will be managed through a new concession, structured as a public work with public service, pending technical, economic, financial, and legal feasibility.

This new concession is expected to commence upon the expiry of the current contract with Sociedad Portuaria de Caldera (SPC), valid until August 2026.