International Container Terminal Services Inc. said Wednesday wholly-owned subsidiary Abbotsford Holdings Inc. acquired subscription rights to 40 million common shares in Hijo International Port Services Inc., a joint venture company with Hijo Resources Corp.
Hijo International Port owns the Hijo International Port, a private commercial port in Barangay Madaum, Tagum, Davao del Norte in the Gulf of Davao. The port sits within a reclaimed land of about 10.3 hectares. It has two berths—127-meter long and 150-meter long—and two cargo sheds located in the wharf area and various terminal support facilities. It handles approximately 300,000 metric tons of mostly banana volumes annually.