SAAM expects to invest almost $85m this year in its ports and tugboat fleet, the Chilean ports, logistics and towage company has announced.
The Santiago-based entity said today during its annual shareholders' meeting that the money will be used to maintain port equipment and infrastructure.
It will also be put toward "reinforcing" its fleet of 160 tugboats servicing 10 ports in Canada and from Mexico to Chile.
"This could also include inorganic growth opportunities that we are constantly evaluating,” SAAM chairman Oscar Hasbun said in a statement.
A call to the company was not immediately returned.
Hasbun also said SAAM began implementing a new operating model last year intended to make the organisation "more flexible, modern and efficient."
This will make the company more competitive and enable it to harness synergies and bring management closer to operations," he said.
The company also reviewed its previously announced results for the fourth quarter and full year of 2017.
It also elected a new board of directors for the next three years, incorporating Armando Valdivieso Montes as independent director.
Montes has been LATAM Airlines Group's senior vice president for passenger business in Spanish-speaking countries since 2012 following the integration of LAN and TAM.
