The contract for the development and operation of a specialised container terminal at the Port of Manzanillo in Mexico was won by CMSA.
CMSA will be financed by a package which has a tenor of 12 years and a long availability period of four years for the complication of the project’s first and second phases.
The terminal will have a capacity of 2.2m teus when completely built in a series of three phases, with phase one having a capacity of 750,000 teus. Phase two is expected to be completed by 2020 and will then increase the terminal’s capacity to 1.4m teus.
ICTSI’s net income in the first half the year was US$100.4m which is down 1% from the previous year, but revenues were up 5% within the past year which amounted to US$552.1m.
Alongside the development of the Port of Manzanillo, the company also plans to expand the Subic Port in the Philippines.