ICTSI concession for Ecuador port extended by 20 yrs

MANILA, Philippines — Ports operator giant International Container Terminal Services Inc. (ICTSI) has secured a fresh 20-year extension for its concession in Ecuador.

ICTSI said its Ecuadorian subsidiary Contecon Guayaquil SA (CGSA), which operates the Port of Guayaquil, had signed an extension to its concession agreement with the La Autoridad Portuaria de Guayaquil.

The concession has been extended for approximately 19 and a half more years to Dec. 31, 2046.

The original concession agreement was supposed to end on July 31, 2027.

ICTSI was awarded in 2007 by the port authority of Guayaquil, Autoridad Portuario de Guayaquil a 20-year operating concession for the container and multipurpose terminals in Guayaquil, Ecuador.  

CGSA’s terminal handles containerized, general and bulk cargo.

ICTSI has so far invested more than $325 million to operate the Guayaquil container and multipurpose terminals.

Just last month, CGSA obtained ISO 14064-3:2006 international certification for carbon neutrality following a verification and audit process carried out  by TÜV Rheinland.

The certification lauds the company’s policies that are directed and translated towards greater sustainability initiatives, as well as the incorporation of technologies that reduce the operation’s impact on Ecuador’s largest and premier maritime gateway.

ICTSI is global developer, manager and operator of container terminals in 19 countries across six continents.

The listed ports operator of billionaire Enrique Razon earned $184.9 million in the nine months ending September, up 29 percent on strong income contributions from its terminals in the country and abroad.