MANILA's International Container Terminal Service Inc (ICTSI) has been recognised among the Project Finance Deals of the Year 2014 "The World's Best Infrastructure Projects".
The global terminal operator's facilities were listed by the UK's World Finance magazine's best project finance index as the most impressive infrastructure projects and deals worldwide.
"Good infrastructure project proposals need to consider a multitude of factors, including, but not limited to, financing, timing, environmental impact and socioeconomic change," said World Finance.
A total of 17 project finance deals were cited by the publication with ICTSI receiving the Sponsor of the Year Award for its "exceptional work in sponsoring a wide variety of deals." It also described ICTSI as choosing to "embrace the pathway to global expansion."
The index highlighted eight ICTSI projects: Contecon Manzanillo, Mexico; Webb Dock East, Melbourne; Puerto Cortes, Honduras; ICTSI Cooperatief - Matadi, DR Congo; Lekki Deep Water, Nigeria; Toamasina - Madagascar International Container Terminal; Karachi - Pakistan Intl CT and Manila Intl CT.
The projects include new concessions offered on a build-operate-transfer (BOT) basis, takeover and upgrade of existing businesses.
ICTSI vice president Martin O'Neil said port authorities usually award the private operator a 25-year lease to work on the terminal, operate it, take responsibility for all the capital investment, the maintenance of the equipment, and to generate an efficient service.
"Overall, if you're operating efficiently and you're investing in the facility and improving the general efficiency, they'll be happy," said Mr O'Neil.
The port operator also scooped another award after Sociedad Puerto Industrial Aguadulce, its joint venture with Singapore's PSA International, won the publication's Port Deal of the Year for the Aguadulce Port Terminal Concession in Buenaventura, Colombia.
WORLD SHIPPING
28 November 2014 - 21:36
ICTSI ports listed among world's best infrastructure projects
MANILA's International Container Terminal Service Inc (ICTSI) has been recognised among the Project Finance Deals of the Year 2014 "The World's Best Infrastructure Projects".
WORLD SHIPPING
28 November 2014 - 21:36
ICTSI ports listed among world's best infrastructure projects
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