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ICTSI granted Guayaquil concession
01 May 2007
ICTSI has been granted a 20-year concession to manage the Ecuadorian port of Guayaquil. Its initial priority will be to reinforce existing quaysides at a cost of around $168m, taking two years to implement. Total investment across the 20 years of the concession will be around $800m.
According to the local sources, ICTSI offered to pay the port authoirty, APG, US$10.43 per container handled, well over the US$6 amount set in the bidding rules.The operator is expected to take control of the port in three to four months.
ICTSI, in a strategic alliance with Singapore’s PSA, was the only entity to submit an offer for the port’s concession last December after a second consortium – formed by local company Transagent, Chilean companies Inversores Cosmos and Empresas Navieras and German firm HHLA Container Terminal – decided to withdraw from the process, blaming a lack of transparency.
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