ICTSI Assigns USD 25 Mn for Expansion Projects

Philippine terminal operator International Container Terminal Services (ICTSI) has earmarked USD 25 million to finance domestic and foreign expansion projects in 2018.

These will include four projects, those being the construction of berth 7 at Manila International Container Terminal (MICT) in Manila, Philippines, as well as the expansion of the Port of Manzanillo in Mexico.

ICTSI has won a concession for the development and operation of the Second Specialized Container Terminal (TEC-II) at the Port of Manzanillo in Mexico.

In addition, a portion of capital funds will be allocated for the expansion of Puerto Cortés in the Republic of Honduras. Namely, the terminal operator secured a contract for the design, financing, construction, maintenance, operation and exploitation of the Specialized Container and General Cargo Terminal of Puerto Cortés for a period of 29 years.

Finally, an undisclosed amount from the USD 25 million is intended to finance the expansion of Port of Umm Qasr, in Iraq to be carried out under the terms of a contract with the General Company for Ports of Iraq (GCPI).

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >