ICTSI Finalizes Deal for Colombia Port

According to reports, ICTSI Ltd., a wholly-owned unit of International Container Terminal Services, has finalized agreements to put up a $180m multi-user container terminal at the Port of Buenaventura in Colombia as well as acquire Sociedad Puerto Industrial de Aguadulce S.A. (SPIA).

The estimated total investment requirement includes the construction and development of a 700,000 TEU per annum container terminal. Construction is scheduled to begin in November this year, with expected completion within 18-24 months thereafter.

Source: ABS CBN