According to the audit report, APM Terminals received an aggregate collected revenue value of US$29,607,017.48 that should have been remitted to the National Port Authority (NPA). The report continued: “The exercise largely relied on documents provided by the Concessionaire (APM Terminals Liberia Ltd). The term “Reefer” is an abbreviation for refrigerated containers, which APM Terminals says it developed its capacity to support, realizing the need after the concession agreement was signed. The Services Rates shall be adjusted on an annual basis in accordance with the Inflation Index. Mr. Adjei said since the inception of the concession agreement in 2011, APM Terminals continues to comply with the agreement by meeting all of its requirements.

Source: Daily Observer January 20, 2020 02:31 UTC