ICTSI clinches Syrian port contract

Manila: International Container Terminal Services Inc has won a 10-tear contract to operate Tartous Container Terminal in Syria, reportedly outbidding other parties which included French container line CMA CGM. The Manila-based terminals group says it will invest $37m in the facility, making it the main port gateway for Damascus, 260km away, and a hub for the wider region, and set up a subsidiary in Syria.  [31/07/06]