ICTSI eyes more foreign port projects<\/p>\n
MANILA (Reuter): Philippine port operator International
\nContainer Terminal Services Inc (ICTSI) said yesterday it was
\nconsidering managing ports in Brazil and Indonesia.<\/p>\n
ICTSI chairman Enrique Razon said the firm was studying
\nwhether to bid for the management contract of two ports in Brazil
\n-- Rio de Janeiro and Sao Paulo -- and whether to join a private
\ngroup running a port in Jakarta.<\/p>\n
\"The bidding for the Rio de Janeiro port will be in July. For
\nthe Jakarta port, we're not bidding for that. There's a group
\nthat has launched that project and we're looking if we're going
\nto come in or not,\" Razon said.<\/p>\n
He said ICTSI would want a majority stake in the Rio de
\nJaneiro port project but would settle for just a management
\ncontract for the Jakarta port.<\/p>\n
If ICTSI proceeded with the port projects, it would be several
\nyears before it sought any new deals, he said. \"If we really
\nwanted to go for them, these should be good for a couple of years
\nsince these are big projects.\"<\/p>\n
ICTSI recently won a contract to manage the Yemeni port of
\nAden. Razon said ICTSI would begin sending people to run the port
\nby the end of September.<\/p>\n
Aside from Aden, ICTSI also operates ports in Buenos Aires,
\nArgentina and in Veracruz, Mexico and will also soon develop the
\nKarachi port in Pakistan.<\/p>\n
ICTSI plans to spend 1.20 billion pesos for capital outlay
\nthis year, the bulk of which would come from internal funds.<\/p>\n
ICTSI president Carlos Soriano said his firm was aiming for a
\n26 percent rise in its 1996 net profit to 405 million pesos from
\n321 million pesos in 1995.<\/p>\n
Revenues are projected to grow 14 percent to 2.5 billion pesos
\nfrom last year's 2.2 billion pesos.<\/p>\n
\"The increase will come from volume growth. We're projecting a
\n15 percent increase in container volumes,\" he said.<\/p>\n
Last year, the firm's container volume was at 708,191 TEUs.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ictsi-eyes-more-foreign-port-projects-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }