ICTSI secure $500 million Melbourne contract


International Container Terminal Services (ICTSI) has announced a winning bid to build a US$500-million shipping container terminal in Melbourne, Australia.

The Business Mirror has reported the Australia Trade Commission’s Minister Counsellor and Senior Trade Commissioner Anthony Weymouth as saying that the shipping container terminal would have a capacity of 2.5 million TEU and that construction is expected to take place in 2017.

Philippine chairman and CEO of the Manila-listed company Ricky Razon, which is 90% owned by ICTSI, has also reportedly signed a contract with the Port of Melbourne Corporation to construct and operate a terminal and empty-container park at the Port of Melbourne.

Razon’s container-park project is a joint-venture with Victoria International Container Terminal Ltd.

ICTSI has had a booming 2014 thus far, with total revenue figures reaching the $779 million mark.

A still of ICTSI's Manila terminal. (Source: Port Calls)

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