International Container Terminal Services Inc (ICTSI) will invest $18 million to modernize the infrastructure at the Ecuadorian port of Guayaquil.
Contegon Guayaquil SA (CGSA), of the ICTSI group, has in fact signed an investment contract with the State of Ecuador with which it aims to increase the port’s capacity, allowing it to cater for neo-panamax vessels without problems.
The expansion project is divided into three phases and the investment includes the modernization of equipment (quay cranes) and deepening the seabed at Pier 1 to 13.5 meters.
CGSA has been a concessionaire at the port of Guayaquil since 2007. The concession was renewed in 2019. It will expire in 2047.
Translation by Giles Foster