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>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 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 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >