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Philippine port operator ICTSI sails into Papua New Guinea

Excerpts from Asia Nikkei:

ICTSI is no longer running the Port of Portland, but it is looking for footholds in other overseas markets.

International Container Terminal Services has bagged contracts to run two new ports in Papua New Guinea, as the Philippine company moves to build up its emerging-market portfolio.

Papua New Guinea is the newest overseas market for ICTSI, which runs over 20 ports worldwide and is keen to add midsize facilities in emerging markets. The company earlier said it plans to deepen its presence in Africa.

ICTSI, controlled by Filipino businessman Enrique Razon, has one of the largest global footprints among Philippine companies. It derives two-thirds of its revenue from overseas operations, and the investment in Papua New Guinea is expected to increase the ratio.

More at Asia Nikkei

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