ICTSI wins Tartous, Syria port concession
International Container Terminal Services Inc. has been awarded a 10-year container terminal operating concession for the Tartous Container Terminal in the Syria.
The Manila, Philippines-based international port operator beat competition from French ocean carrier CMA CGM, and joint bids from OPM and PWC Logistics, as well as from Kuwait and Gulf Link Transport and Gulf Stevedoring.
The Port of Tartous handled 52,628 TEUs in 2004 and has witnessed a 12 percent container growth in the last decade, ICTSI said.
ICTSI will invest $37 million on improvements and equipment over the 10-year concession period, which has an option to extend for another five years.
'ICTSI envisions the Tartous port to be the gateway for Syria's capital, Damascus, and a major hub for the eastern Mediterranean and Middle East hinterlands,' the company said.
ICTSI wins Tartous, Syria port concession
