ICTSI invests $180M in Colombia

· Uncategorized

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.

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