ICTSI takes controlling stake in Davao port

International Container Terminal Services Inc (ICTSI) has taken control of a terminal in Davao which it now plans to expand, Seatrade Asia online reports.

ICTSI has increased its stake in Hijo International Port Services (HIPS) to 65%. HIPS owns Hijo International Port, a private commercial port in Barangay Madaum, Tagum, Davao del Norte in the Gulf of Davao.

The port has two berths and ICTSI now plans to expand facilities to handle containerised cargo, in particular reefer boxes carrying bananas.