International Container Terminal Services, Inc. (ICTSI) from the Philippines and PSA International of Singapore will jointly develop a container terminal and support facilities located on the Aguadulce peninsula at the port of Buenaventura, Colombia.
PSA has taken a 45.64 percent interest in the ICTSI indirect subsidiary Sociedad Puerto Industrial Aguadulce S.A. (SPIA), which holds the 30-year concession for the Aguadulce port project granted by the Agencia Nacional de Infraestructura of Colombia. ICTSI will retain a similar share.
According to ICTSI's Website, in July 2007, through ICTSI Ltd. the firm concluded agreements to start construction and development of a new multi-user container terminal at the Port of Buenaventura in Colombia. ICTSI also acquired stakes in two Panamanian companies to gain control of Sociedad Puerto Industrial de Aguadulce S.A. (SPIA). SPIA owns 250 hectares of land on the Aguadulce peninsula. SPIA received from the Colombian National Institute of Concessions a 30-year concession to develop, construct and operate a container-, grains- and coal-handling facility in Aguadulce.
The development of the port will be done in three phases. The first phase will yield an annual capacity of 450,000 TEUs with two vessel berth positions. - Chris Dupin