ICTSI get busy in the Baltic
BCT’s Gdynia terminal is set for modernisation
Its been a busy week for International Container Services (ICTSI) – its subsidiary Baltic Container Terminal (BCT) has taken the plunge and entered into a credit agreement for the modernisation of the Gdynia terminal in Poland.
The agreement amounts to US$46.5m and consists of a ten year capital expenditure loan, refinancing of an existing long term loan and an overdraft facility.
The project cost is expected to total US$49.2m. Funding will be made possible by the capex loan totalling US$36.3m, supplemented by a Center for EU Transport Projects (CETP) subsidy of $17.3m.
There will be investment in new equipment – including new quay cranes, rubber tired gantries and rail mounted gantries.
Terminal yards and roads will also be modernised. A new Differential Global Positioning System (DGPS) will also be deployed and automatic gates installed. The project is expected to be completed by 2015 and it will increase BCT’s annual capacity by 60% from 750,000 to 1.2m teu.
And BCT is not the only ICTSI subsidiary to benefit from investment in new equipment recently. Adriatic Gate Container Terminal (AGCT) has two post Panamax quay cranes, eight rubber tired gantries and rail mounted gantries on order with Shangai Zhenhua Heavy Industries Co. Ltd.
Delivery of all equipment is expected in May 2013 and will coincide with the opening of the new quay extension.
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