Philippines-based International Container Terminal Services Inc (ICTSI) has taken over operations at the port of Guayaquil in Ecuador.
ICTSI wholly-owned subsidiary Contecon Guayaquil S.A. (CGSA) last year won a 20-year concession to run Guayaquil's multi-purpose cargo terminals including container facilities.
Guayaquil is Ecuador's major port, handling about 75% of the country's total international trade volume and over 90% of Ecuador's container traffic.
Current annual throughput is slightly over 600,000 twenty-foot equivalent units (TEUs).
CGSA has embarked upon a comprehensive re-organization and modernization of Guayaquil's container and general cargo handling facilities.
The upgrades include the purchase of two mobile harbour cranes, three post-Panamax ship-to-shore quay cranes and eight rubber tired gantries (RTGs).
Orders have also been placed for ten new reach stackers, four empty handlers, and horizontal transfer equipment – 18 terminal tractors and 27 terminal trailers – as part of a comprehensive package of measures to streamline container handling on the land-side.
Following these investments, CGSA will build a 230 metre extension to the existing 550 metre container quay, suitable for the introduction of high capacity, twin lift, ship-to-shore quay cranes.
These investments are in line with ICTSI's pledge to spend $80 million on equipment purchase and infrastructure upgrading in the first year of its concession and a commitment to invest $170 million over the first three years.
ICTSI had also recently taken over operations at China's Yantai Gangtong Container Terminal.
It recently finalized agreements to build and run a new $180 million container terminal at the Colombian port of Buenaventura.
The company has also taken over operations at Syria's Tartous Container Terminal.
On the local front, ICTSI recently secured a concession to operate the new $215 million container terminal at Subic Bay Freeport.
Reports say that funding for ICTSI's international expansion may come partly from a $120 million standby credit line offered by a consortium of 19 international banks led by ABN AMRO Bank N.V.
The Asian Development Bank (ADB) has cited ICTSI as one of the top five major maritime terminal operators in the world.
ICTSI also operates Brazil's Suape Container Terminal, Poland's Baltic Container Terminal, Japan's Naha International Container Terminal, Indonesia's Makassar Container Terminal and the Madagascar International Container Terminal.
ICTSI wholly-owned subsidiary Contecon Guayaquil S.A. (CGSA) last year won a 20-year concession to run Guayaquil's multi-purpose cargo terminals including container facilities.
Guayaquil is Ecuador's major port, handling about 75% of the country's total international trade volume and over 90% of Ecuador's container traffic.
Current annual throughput is slightly over 600,000 twenty-foot equivalent units (TEUs).
CGSA has embarked upon a comprehensive re-organization and modernization of Guayaquil's container and general cargo handling facilities.
The upgrades include the purchase of two mobile harbour cranes, three post-Panamax ship-to-shore quay cranes and eight rubber tired gantries (RTGs).
Orders have also been placed for ten new reach stackers, four empty handlers, and horizontal transfer equipment – 18 terminal tractors and 27 terminal trailers – as part of a comprehensive package of measures to streamline container handling on the land-side.
Following these investments, CGSA will build a 230 metre extension to the existing 550 metre container quay, suitable for the introduction of high capacity, twin lift, ship-to-shore quay cranes.
These investments are in line with ICTSI's pledge to spend $80 million on equipment purchase and infrastructure upgrading in the first year of its concession and a commitment to invest $170 million over the first three years.
ICTSI had also recently taken over operations at China's Yantai Gangtong Container Terminal.
It recently finalized agreements to build and run a new $180 million container terminal at the Colombian port of Buenaventura.
The company has also taken over operations at Syria's Tartous Container Terminal.
On the local front, ICTSI recently secured a concession to operate the new $215 million container terminal at Subic Bay Freeport.
Reports say that funding for ICTSI's international expansion may come partly from a $120 million standby credit line offered by a consortium of 19 international banks led by ABN AMRO Bank N.V.
The Asian Development Bank (ADB) has cited ICTSI as one of the top five major maritime terminal operators in the world.
ICTSI also operates Brazil's Suape Container Terminal, Poland's Baltic Container Terminal, Japan's Naha International Container Terminal, Indonesia's Makassar Container Terminal and the Madagascar International Container Terminal.