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ICTSI readies Latin American warchest

ICTSI readies Latin American warchest

Manila: International Container Terminal Services Inc., the largest Philippine port operator, plans to spend $600 million expanding facilities in Latin America as economic growth spurs trade. The company will make the investments in Argentina, Mexico and Colombia during the next two years, Chairman Enrique Razon told reporters today after a shareholders meeting in Manila. The terminal operator previously announced plans to spend $123 million upgrading facilities in Manila, Brazil, Ecuador and Madagascar this year. ?The company expects volumes across its operations to continue growing this year, with all of its terminal performing "well," Razon said. ?Stockholders also approved a new class of shares at the meeting. The terminal operator fell 1.1 percent to close at 32.85 pesos in Manila. [12/08/10]

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