International Container Terminal Services, Inc. (ICTSI) plans to spend about $150 million in the next five years to develop the port in Puerto Cortes, Honduras, a senior company official said recently.

Last February, the Razon-led port operator was awarded a 30-year contract for design, financing, construction, maintenance, and operation of the Puerto Cortes facility, which is considered a premier port in Central America.

Aside from Honduras and the Philippines, ICTSI also has operations in Argentina, Brazil, British Virgin Islands, Brunei, Cayman Islands, China, Colombia, Croatia, Ecuador, Hong Kong, India, Indonesia, Japan, Madagascar, Mauritius, Mexico, Pakistan, Panama, Poland, Singapore, South Africa, The Netherlands, United Arab Emirates, the United States (Portland, Oregon), Uruguay and Venezuela.

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