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ICTSI to sign $600-m Honduras deal

Puerto Cortes, Honduras

Puerto Cortes, Honduras

International port operator International Container Terminal Services Inc. is set to sign the $600-million port modernization contract of Puerto Cortes in Honduras.

A technical committee composed of members of the Commission for the Public-Private Alliance, an entity of the federal government of Honduras, and FICOHSA bank, the trustee of the conferred contract, announced on Feb. 1 that ICTSI won the contract for the design, finance, construction, preservation, operation and exploitation of the terminal for 30 years.

ICTSI’s net income increased 4 percent to $105.8 million in the first nine months of 2012 from $101.4 million a year ago, as revenues grew 7 percent to $524.7 million from $490.9 million.

The port operator plans to bid for other ports in the Philippines and other countries. A company executive said earlier it would bid for the P4-billion expansion project of Davao Sasa Wharf in Mindanao.

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