ICTSI wins 34-year Manzanillo concession

International Container Terminal Services Inc (ICTSI) has won a 34-year concession from the Administracion Portuaria Integral de Manzanillo (API) to operate the Port of Manzanillo in Mexico.

The concession is for the development and operation of the second Specialised Container Terminal (ECT) at the facility, the busiest port in the country.

API says that its total investment in the project will be about 7.3 billion pesos (approximately US$567 million), while ICTSI has committed a further 2.54 billion pesos (approximately US$197 million) to the development.

The port development project, covering an area of 77 hectares with 1,080 metres of sea front or docking and 16 metres depth, will be done in three phases.

The first phase, expected to be completed within three years of the agreement, will feature development of 42 hectares with 720 metres of quay length. API expects that the finished facility will manage around 2 million containers a year.

(Source: Port Financial International)