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ICTSI expands into Ecuador

ICTSI expands into Ecuador

Manila: Philippines-based International Container Terminal Services Inc. said Tuesday it has won a 20-year concession to operate a container terminal in Ecuador.

The listed company also known as ICTSI told the local stock exchange it won the Guayaquil concession on South America's west coast.

The agreement is to be signed in May. No other further details were disclosed.
The Filipino firm also operates ports in Brazil, Indonesia, Japan, Madagascar, the Philippines, Poland and Syria. In February, it announced that it had acquired a majority stake in a Shandong province port operator in its first foray into the China market.

ICTSI's move into Ecuador follows hot on the heels of rival Hutchison Port Holdings' debut into the same nation at Manta.  [28/03/07]