ICTSI to invest $21m in port facilities

International port operator International Container Terminal Services Inc (ICTSI) has earmarked capital investment of $21m for its portfolio of port facilities, Seatrade Asia online reports. The money, which will be sourced from retained earnings, will be used to enhance its investments in the Philippines as well as areas abroad such as Africa, Latin America and South Asia. The company, which handled 3.84m teu in the first three quarters of 2011, saw its net income increase by 39% to $101.4m for the same period.