On December 9, 1997 Chilean Law nº 19.542 was enacted allowing the private sector to participate in the development and exploitation of state-owned ports under a concession regime.
In August 1999, a public tender took place through which a 20-year concession of Terminal No. 1 of the port of Valparaiso was awarded to Cosmos Investments consortium of Ultramar Group (www.ultramar.cl) and German company HHLA, Port of Hamburg (www.hhla.de) prompting the establishment of our company TPS Valparaiso SA, created October 25, 1999.
On January 1st, 2000, TPS began managing Terminal No. 1 of Valparaíso, designed for handling containers vessels and multi-purpose vessels. TPS has an area of over 16 hectares, five berths and a total length of 985 meters. This infrastructure allows us to meet around 89% of cargo transferred through the port, which today represents more than 10.3 million tons per year.
In July 2002, the German state-owned financial institution DEG Deutsche Investitions und Entwicklungsgesellschaft mbH, also joined TPS ownership. From September 2009, the total property of the Terminal (100% of its shares) was transferred to Ultramar Group.
TPS is a new company in terms of its history but with an excellent service based on the expertise of its shareholders, who have been related to maritime transportation for decades. The high standards of services provided by TPS rely on ongoing investment in systems, machinery and port infrastructure enhancing the efficiency of the terminal.