Hutchison inks Ecuador deepwater terminal

Hong Kong: Hutchison Port Holdings has signed a 30-year concession with the Port of Manta in Ecuador to build and operate a $523m container terminal. New company Terminales Internacionales de Ecuador SA (TIDE) has been set up to run the project, which will become the country's only port able to accommodate the largest size container vessels. Slated to be operational in 2007, the facility will have a quay 1,250 metres in length, draft up to 16 metres and a total area of 63 hectares when finished. The deal brings the total number of HPH terminals to 44.  [20/11/06]