MANILA's big port operator, International Container Terminal Services, Inc (ICTSI) has won the international bid for the design.
ICTSI wins Honduras bid for 1.8 million TEU capacity container terminal
MANILA's big port operator, International Container Terminal Services, Inc (ICTSI) has won the international bid for the design, financing, construction, maintenance, operation and exploitation of the Specialised Container and General Cargo Terminal of Puerto Cortes in Honduras.
The contract worth an undisclosed amount was awarded to the Philippines group by a technical committee composed members of the Commission for the Public-Private Alliance (COALIANZA), an entity of the government of Honduras, and the FICOHSA bank, the trustee of the conferred contract.
The Container and General Cargo Terminal of Puerto Cortes will be designed to handle 1.8 million TEU per annum, which would triple the existing capacity. It will have 1,100 metres of quay for containers and 400 metres for general cargo, 14-15 metres of draft, 62 hectares of total surface area and 12 STS cranes.
"We find ICTSI's acquisitions strategic. This could be another source of growth in the medium term, and may offset the soft trend in global volumes," UBS said in a research note.
ICTSI will negotiate the concession agreement leading to the signing of the contract within the next 60 days, according to the group's treasurer Rafael Consing, who revealed five- to 10-year investment plans have already been developed for the Honduran port.
In Latin America, ICTSI has two existing port projects in Ecuador and Brazil, and expects to roll out three greenfield projects in Mexico, Argentina and Colombia soon, according to the report.
