Razon-led ICTSI wins contract to build terminal in Honduras

Posted at 02/04/13 11:08 AM

MANILA, Philippines - International Container Terminal Services Inc. (ICTSI) won a contract to construct a container and cargo terminal in Honduras.

The ports operator, owned by businessman Enrique Razon, said it was awarded the 30-year contract for the construction, maintenance and operation of the specialized container and general cargo terminal of Puerto Cortes in Honduras.

This after ICTSI won the public bidding for the contract last February 1 in Tegucigalpa, Honduras. 

The terminal will have 1,100 m of quay for containers and 400 m for general cargo. It will have a volume capacity of approximately 1.8 million TEUs. 

In the third quarter of 2012, ICTSI saw profits fall by an annual 14% due to a one-time gain booked a year ago. Net income attributable to equity holders went down to $35.5 million in July to September from $41.4 million last year. 

ICTSI owns or operates 22 terminal facilities: 6 in the Philippines and one each in China, Ecuador, Poland, Brazil, Madagascar, Syria, Georgia, Brunei, Indonesia, Japan, India, Colombia, Argentina, Croatia, Mexico and US.