ICTSI unit extends Ecuador concession

A unit of Razon-led International Container Terminal Services Inc. (ICTSI) in Ecuador has extended its concession agreement for the operation of Port of Guayaquil in Ecuador.

The ICSTI subsidiary, Contecon Guayaquil S.A. (CGSA), signed the extension to its concession agreement with the La Autoridad Portuaria de Guayaquil, ICTSI disclosed to the stock exchange on Friday.

“The Concession Extension extended the original Concession Agreement, which was to end on 31 July, 2027, for approximately 19 ½ more years to 31 December 2046,” it said.

ICTSI was awarded a 20-year operating concession for the port in March of 2007. CGSA serves as ICTSI’s largest port concession in Latin America, with an annual handling capacity of up to 1.4 million twenty equivalent-foot units.

It especially caters to the import and export of goods, being in close proximity to export zones and agricultural areas.

CGSA has six quay cranes and four mobile harbor cranes. It has a berth line of 1,627 meters and a maximum controlling depth of 12.5 meters. It can accommodate mega vessels of up to 305 meters in length at Berths 1 and 2 of the port.