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ICTSI Ecuador invests US$18m to develop Guayaquil Port

INTERNATIONAL Container Terminal Services, Inc's (ICTSI's) subsidiary in Ecuador, Contecon Guayaquil SA (CGSA), has signed an investment contract with the Ecuadorian state to further strengthen and develop the Port of Guayaquil

22 October 2020 - 19:00

INTERNATIONAL Container Terminal Services, Inc's (ICTSI's) subsidiary in Ecuador, Contecon Guayaquil SA (CGSA), has signed an investment contract with the Ecuadorian state to further strengthen and develop the Port of Guayaquil.

CGSA is investing US$18 million to boost the port's capacity to handle neopanamax vessels in three stages. Stage one will raise the height of quay cranes 5 and 6 from 42 metres to 52 metres, and extend their boom lengths from 50 metres to 56 metres (20 rows).



The second stage involves works to reinforce the docks, while stage three will further deepen Pier 1's draft to 13.5 metres.



Jose Antonio Contreras, CGSA general manager, who signed the contract together with Gabriel Martinez, Ecuador's Minister of Transportation and Public Works, said: 'This is a decisive complement to the joint commitment we have made to achieve great objectives in pursuit of the development of this sector.'



CGSA started servicing neopanamax vessels in 2019, becoming the first port in the country capable of handling this large class of containerships following the dredging of the 95-kilometre access channel leading to the Port of Guayaquil.



Beyond the contract, CGSA plans to increase the total investment amount to US$30 million as part of its commitment to enable and promote Ecuador's foreign trade.



CGSA has been operating at the Port of Guayaquil since 2007 under a 20-year concession. Last December, the Autoridad Portuaria de Guayaquil extended the concession period for another 20 years, allowing the company to operate until 2047, according to a company statement.


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