Philippines Port Operator ICTSI Wins Bid to Takeover Brazil’s Libra Terminal Rio

Libra Rio holds the concession rights to operate, manage and develop the container terminal Terminal de Contêineres 1 (T1Rio) in the port of Rio de Janeiro City, Brazil.

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ICTSI Cavite Gateway Terminal, Philippines

Philippine-listed global port operator International Container Terminal Services Inc (ICTSI) said its subsidiary, ICTSI Americas BV, has won the bid to acquire Libra Terminal Rio from Boreal Empreendimentos e Participacoes SA.

According to its disclosure to the Philippine Stock Exchange, ICTSI will work to sign a share purchase agreement with the buyer following the winning bid.

Libra Rio holds the concession rights to operate, manage and develop the container terminal Terminal de Contêineres 1 (T1Rio) in the port of Rio de Janeiro City, Brazil.

The concession of T1Rio commenced in 1998, and was extended in 2011, to last until 2048. ICTSI will assume the operational, development and other responsibilities under the current concession contract.

The transfer of the facilities to ICTSI management is expected to take place after all conditions precedent and required regulatory approvals have been obtained.

In 2018, T1Rio had a throughput of approximately 135,000 TEUs and an estimated capacity of 530,000 TEUs.

It has state-of-the-art container terminal assets, including 5 Ship-to-Shore Gantry Cranes and an extensive range of yard handling equipment including more than 16 Rubber-Tired-Gantry Cranes.

It has a total land area of 18.8 hectares and 715 meters of quay wall, with a design water depth of up to 16 meters and thus the capability to receive large container vessels of global shipping lines.

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On 14th of June 2019, ICTSI has been declared preferred bidder for the concession of the development, operation and maintenance of the Multi-Purpose Terminal of the Port of Kribi by the Port Autonome de Kribi. Parties will now engage in exclusive concession contract negotiations ahead of final contract signature.

The Port of Kribi is located in Cameroon, Central Africa. It is a newly built port with deep draft. The Multipurpose terminal consists of 265m of berth and 10ha of yard.

Kribi port is surrounded by the Kribi Industrial Area, a 262sq.km reserved land destined to accommodate new industrial and logistical developments supporting the Cameroon-Chad-CAR (Central African Republic) Corridor economic growth.

The concession contract has a duration of 25 years until 2045. – VCNewsAsia.com

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