ICTSI Shows Interest in Greece's Port
By Aiswarya Lakshmi
Tuesday, May 19, 2015
Philippines head quartered International Container Terminal Services Inc. has expressed interest in a majority stake in Piraeus port in Greece, says a report in AFP.
“Yes. We are now reviewing this opportunity,” ICTSI vice president and treasurer Rafael Consing Jr. said in a text message.
Greece unblocked the sale of a 51 per cent stake in Piraeus port and has invited three short listed investors to submit binding bids by September. Chinese conglomerate COSCO and the Dutch company APM Terminals have also expressed interest on the privatization of Piraeus port and have until September to submit their offer.
The Greek government is selling a 51-percent stake in the Piraeus port, the largest port in Greece, lower than the 67 percent stake it earlier offered. The cash-strapped Greek government has been raising funds through the sale of public assets to pay creditors from Europe and the International Monetary Fund.
ICTSI has also announced plans to expand its African operations. Speaking at the company’s annual meeting in Pasay City last month, chairman Enrique Razon Jr said that the company is keen to secure additional African container terminal concessions in order “to expand its geographical footprint into all regions of the continent.”
ICTSI has already bid to operate the new container terminals under development in Mombasa in Kenya [shortlist of 12] and Kribi in Cameroon [shortlist down to two].
Established in December 1987 in the Philippines, ICTSI has become a leading operator, innovator and pioneer in its field. After consolidating and strengthening its base and flagship operations at the Manila International Container Terminal in the Philippines, it realized the potential for an independent international terminal operator, and launched an aggressive international and domestic expansion program in 1994.