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ICTSI takes over Georgias Batumi terminal

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ICTSI takes over Georgias Batumi terminal

by Inquirer.net

MANILA, Philippines--Publicly listed port operator International Container Terminal Services Inc. (ICTSI) officially took over operations at the Port of Batumi in Georgia through subsidiary Batumi International Container Terminal LLC (BICTL), the parent company said in a statement Tuesday.

The day also marked the servicing of BICTL’s first ferry vessel, “MV Geroite Na Sevastopol,” which docked at Berth 6, the statement sad.

The vessel contained seven import railwagons, 26 various types of cargo loaded trucks, two TEU containers and 27 passengers.

The vessel loaded 12 trucks, three passenger cars and eight passengers.

ICTSI’s wholly owned subsidiary, ICTSI Georgia Corp., obtained the port concession from Batumi Port Holdings Ltd., which has the exclusive management rights over the state-owned shares in Batumi Sea Port Ltd. (BSP).

ICTSI Georgia Corp. formed BICTL to operate the concession, and to be the exclusive operator in the Port of Batumi in Georgia.

BSP granted a 48-year lease to BICTL to operate a total area of 13.6 hectares of the Port of Batumi, which includes Berth 4 & 5 for the container terminal, Berth 6 for the ferry terminal and for dry bulk general cargo.

BICTL will pay an annual rent of $0.60 a square meter for the first 18 months, increasing to $5.50 a square meter thereafter.

BSP and BICTL have outlined their preliminary upgrade activities required to strengthen Berths 4 & 5 for the installation quay cranes, and to refurbish the two portal cranes in Berth 6 as part of the investment requirement for the Port of Batumi.

BICTL is also looking at the possibility of handling container vessels using mobile harbor cranes as well as roll on-roll off vessels.

The Port of Batumi is considered one of the main transportation trade points in the Black Sea.

Headquartered in the Philippines, ICTSI is positioning itself as one the world’s leading players in international container terminal operations.

Its flagship port is in Manila’s south harbor and it also operates ports in Japan, Indonesia, Poland, Brazil, Syria, Madagascar and China.

Foreign operations accounted for 60 percent of the port operator’s P1.8-billion net income for 2006, compared with 34 percent of the P1.34-billion profit in 2005.

Last March, ICTSI won a 20-year port contract in Ecuador from the Guayaquil Port Authority.

The Guayaquil port handles containerized, general and bulk cargo and is on the west coast of the South American continent.

ICTSI chairman and president Enrique Razon Jr.

earlier said ICTSI would venture further into Latin America and then India as part of its aggressive international expansion program.



 
 
 
 
 
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