ICTSI Invests US$18 Million To Further Develop Guayaquil Port

- Oct 15, 2020-

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Logistics Baba learned that the Port of Guayaquil (CGSA), a subsidiary of International Container Terminal Services (ICTSI) in Ecuador, has signed an investment contract with the Ecuadorian government to further strengthen and develop the Port of Guayaquil.


   The contract was signed by CGSA and the Ministry of Transport and Public Works of Ecuador.


  CGSA will invest US$18 million to improve the capacity of the Port of Guayaquil to handle the new giant ship.


   The project will be developed in three phases. The first phase is to increase the height of the cranes at Pier 5 and Pier 6 from 42 meters to 52 meters, and the boom length from 50 meters to 56 meters.


   The second phase includes the strengthening of the pier, and the third phase will further deepen the draft of Pier 1 to 13.5 meters.


   CGSA general manager Jose Antonio Contreras (Jose Antonio Contreras) said: "This is a decisive supplement to our common commitment, we will achieve the great goal of the development of the industry."


   In addition to the contract, CGSA also intends to increase its total investment to 30 million U.S. dollars as part of its commitment to promote Ecuador’s foreign trade.


   Since 2007, CGSA has obtained a 20-year concession and has been operating in the Port of Guayaquil. In December last year, the lease was extended for another 20 years, to 2047.


   After dredging the 95-kilometer channel to the port of Guayaquil, CGSA started servicing new Panamax vessels in 2019.


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