Global port operator International Container Terminal Services Inc. (ICTSI) has entered int a memorandum of understanding (MOU) with the Brunei Economic Development Board (BEDB) to design and develop a 660-meter terminal in Brunei Darussalam.
Under the MOU, ICTSI shall assist the BEDB in the design, construction and development of the new Pulau Muara Besar (PMB) Container Terminal.
“The BEDB announced that ICTSI is the preferred port operator for the PMB container terminal project. The BEDB will award a concession agreement to ICTSI or its subsidiary to operate the PMB Container Terminal once it is completed and ready for commercial operation,” ICTSI said in a disclosure to the Philippine Stock Exchange.
ICTSI earlier announced it was considering investing in a new terminal in Argentina after it was invited to participate in the development of an all-purpose terminal at the Port of La Plata, located south of Buenos Aires and along the River Plate.
For this year, ICTSI has set aside P10 billion for the construction of a new multi-user container terminal as well as acquisition of new equipment.
The allotted capital budget is slightly higher than the amount spent last year of P9.9 billion which went to the expansion of operations in Manila, Poland, Brazil and Madagascar and the acquisition and rehabilitation of new terminals in Ecuador, China, Syria, Georgia, Colombia and in Davao. — Zinnia dela Peña