ICTSI signs Tartous, Syria container terminal concession
International Container Terminal Services Inc. today officially signed the 10-year operating concession for Tartous Container Terminal in Syria, which it was awarded in July.
To win the concession, the Manila, Philippines-based international port operator had to beat competition from French ocean carrier CMA CGM, and joint bids from OPM and PWC Logistics (re-branded Agility), as well as from Kuwait and Gulf Link Transport and Gulf Stevedoring.
Located on the North Quay, Pier B in the port, the concession site comprises 540 meters of quay with a draught of 12 to13 meters alongside and a 250,000 square meter terminal area. Operations are scheduled to commence early next year with these incorporating a specialized over-the-quay container handling system in the short-term.
ICTSI plans to invest $37 million on the development of the new container terminal over the lifetime of the concession, including investments in container handling hardware, computer systems, manpower and other facilities.
“The Syrian container market has seen double digit growth since 2000, and ICTSI is very pleased to be at the centre of this dynamic new market and the pioneering port privatization initiative in Tartous,” said Enrique K. Razon Jr., ICTSI’s chairman and chief executive officer, in a statement.
ICTSI signs Tartous, Syria container terminal concession
