Philippines’ International Container Terminal Services Inc. (ICTSI) was awarded the contract to develop and operate the Adriatic Gateway Container Terminal (AGCT) in Croatia’s Port of Rijeka, the Philippine Embassy in Vienna reported.
The agreement includes a 30-year strategic partnership for the management and operations of AGCT. As part of the transaction, ICTSI purchased a 51% stake in AGCT.
With its Croatian partner, ICTSI also plans to invest in excess of 70 million euros during the initial phase of the concession, to include the introduction of new super-Post Panamax crane and comprehensive vessel loading and container terminal management systems.