ICTSI invests $180M in Colombia

· Uncategorized
Authors

Agence France Presse | Photo “Buenaventura” by emeseece.

July 15, 2007

Top Philippines port operator International Container Terminal Services Inc. said Monday it will build a 180 million dollar cargo handling facility in Colombia’s Buenaventura port.

ICTSI Ltd., the company’s overseas operations arm, has reached agreement to build the new terminal, acquire stakes in two companies and take effective control of Sociedad Puerto Industrial de Aguadulce SA, the listed parent firm told the Philippine Stock Exchange.

The two target companies were not identified.

Sociedad Puerto owns the 225 hectares of land in Buenaventura’s Aguadulce peninsula where the 700,000 TEU per annum container facility will be built. Construction is scheduled to start in November.

ICTSI also operates container terminals in Poland, Brazil, Madagascar, Indonesia, Syria and Japan, and recently signed contracts to run facilities at the Port of Guayaquil in Ecuador.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: