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ICTSI bags Mindanao concession

ICTSI bags Mindanao concession

Manila:  Manila-based International Container Terminal Services Inc. (ICTSI) said on Monday it had won the bid for a 25-year contract to operate a terminal in the southern part of the Philippines. ICTSI, operator of five other terminals in the Philippines including one in the capital Manila, said the contract covers the Mindanao Container Terminal (MCT) inside the Phividec Industrial Estate in Tagoloan town, Misamis Oriental. The MCT is designed to accommodate an annual throughput of 270,000 twenty-foot equivalent units, it said in a statement. ICTSI also operates terminals in Poland, Brazil, Madagascar, Ecuador, China, Syria, Georgia and Colombia. The company had said that its capital expenditure this year might increase by 230 percent to 11.6 billion pesos ($278 million), covering civil works, systems improvement and the purchase of major cargo handling equipment. [02/04/08]

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