In addition, the company is to spend $123m on increasing capacity at its operations in Brazil, Ecuador, Madagascar and Manila.
To this end, the company recently purchased shares equivalent to 10% of the share capital of TecPlata, SA, ICTSI’s port project in the Port of La Plata, in Argentina.
The purchase was made through its Uruguayan subsidiary, International Ports of South America and Logistics, SA (IPSAL).
As a result of the acquisition, IPSAL now owns 58,157,000 registered non-endorsable common shares of AR$1 par value each and 1 vote per share, representing 85% of the capital stock of TecPlata.