ICTSI fails to buy Singapore's Portek, now after Piraeus and Thessaloniki
Manila-based port operator International Container Terminal Services Inc (ICTSI) has said it wants to buy two main ports in Greece if the financially hard-press Greek government decides to sell, Shippingazette reported.
The company lost out to Japan's Mitsui in a bid for Singapore's Portek, which it sought for its Africa trade, where it feels major developments are imminent.
ICTSI chairman and president Enrique Razon said he has US$500 million for acquisitions and the Greek ports at Piraeus and Thessaloniki are his aim, reports London's International Freighting Weekly. "The government is under a lot of pressure to sell - hopefully sooner than later," Mr Razon said.
ICTSI has 22 terminals and port projects in 17 countries. "We've raised a lot of money over the last two years. If there's another economic slowdown, we feel there will be opportunities," he said.
Greek ports, he said, possess great potential, especially when the Greece emerges from the economic crisis. "If Greece defaults, it will go into depression, but when it exits that, it will be from a very low base and will have very good growth rates - almost non-European growth rates," Mr Razon said.
The company lost out to Japan's Mitsui in a bid for Singapore's Portek, which it sought for its Africa trade, where it feels major developments are imminent.
ICTSI chairman and president Enrique Razon said he has US$500 million for acquisitions and the Greek ports at Piraeus and Thessaloniki are his aim, reports London's International Freighting Weekly. "The government is under a lot of pressure to sell - hopefully sooner than later," Mr Razon said.
ICTSI has 22 terminals and port projects in 17 countries. "We've raised a lot of money over the last two years. If there's another economic slowdown, we feel there will be opportunities," he said.
Greek ports, he said, possess great potential, especially when the Greece emerges from the economic crisis. "If Greece defaults, it will go into depression, but when it exits that, it will be from a very low base and will have very good growth rates - almost non-European growth rates," Mr Razon said.