International Container Terminal Service : EC President Moreno cites ICTSI Guayaquil for economic contribution

EC President Moreno cites ICTSI Guayaquil for economic contribution

Wednesday, Feb 07, 2018

Contecon Guayaquil SA (CGSA), a subsidiary of global operator International Container Terminal Services, Inc. (ICTSI) at the Port of Guayaquil in Ecuador, recently received President Lenín Moreno, who lauded CGSA's contributions to the growth of Ecuador.

Marking the first time that a President of Ecuador had visited the terminal since the start of its operations in 2007 - Moreno also witnessed the inauguration of CGSA's new greenfield terminal development, an expanded logistics support area built last year.
'In these facilities, the Contecon concessionaire invested US$10 million. This amount is part of the US$325 million they pledged to invest for twenty years (up to 2027), on Port Authority grounds,' President Moreno told the people of Guayas province during his visit to the terminal last 26 January.

'However, we should highlight that, in these 10 years, Contecon already has invested US$360 million - US$35 million more than expected. Thank you very much for this. Good for the company, for Guayaquil, and for the country,' he added.
President Moreno also signed two inter-institutional agreements to carry out a project to restore the port area in Guayaquil, as well as the creation of a technological institute with careers related to commercial and maritime development.
The new logistics support area is designed to handle more than 6,000 containers, aimed at supporting the economic, industrial and commercial growth of the Latin American country.

'ICTSI has built a reputation for itself as one of the most successful port operators in the world. Ten years says a lot as to what we have been doing in Ecuador. It speaks to the kind of leadership and management style in all of our terminals around the world,' says José Antonio Contreras, CGSA Chief Executive Officer.

ICTSI and CGSA remain proud partners of the Ecuadorian government's vision of economic development through its private-public partnership programs - bringing in more jobs and investment for the country.

'This new developments only shows ICTSI's continuing commitment to the development of Guayaqil by consolidating and expanding its position as Ecuador's main trading gateway. With investments in modern infrastructure, Contecon will progressively raise the bar in container and general cargo handling operations in Ecuador,' Anders Kjeldsen, ICTSI Senior Vice President and Regional Head for the Americas emphasized.

He adds: 'We are confident that the new terminal area will boost efficiency and speed the movement of import and export cargo supporting the country's rapid growth.'

Top Ecuador officials also graced the occasion, including Jaime Nebot, Mayor of Guayaquil City; José Francisco Cevallos, Governor; Jimmy Jairala, Prefect; Paúl Granda, Minister of Transportation; Raúl Ledesma, Minister of Labor; Carlos De la Torre, Minister of Economy; and Mauro Andino, Director-General of the Servicio Nacional de Aduana del Ecuador (SENAE).
As of date, ICTSI has a portfolio of 30 port terminals and projects in 18 countries, and has a workforce of 10,000 employees worldwide.

Photo caption: Ecuador President Lenin Moreno with top cabinet officials during the inauguration of an expanded logistics support area built by ICTSI subsidiary Contecon Guayaquil SA

Aerial view of Guayaquil Container & Multipurpose Terminals at the Port of Guayaquil, operated by ICTSI subsidiary Contecon Guayaquil SA

About CGSA
In March 2007, ICTSI was awarded by the port authority of Guayaquil, Autoridad Portuario de Guayaquil (APG), a 20-year operating concession for the Container and Multipurpose Terminals in Guayaquil, Ecuador. Later in May, a contract was formally signed between APG and Contecon Guayaquil SA, ICTSI's local operating unit. The terminal handles containerized, general and bulk cargo, and holds 70 percent market share of the whole of Ecuador. (www.cgsa.com.ec)

About ICTSI
Headquartered and established in 1988 in Manila, Philippines, International Container Terminal Services, Inc. (ICTSI) is in the business of port development, management and operations. As an independent business with no shipping, logistics or consignee-related interests, ICTSI works and transacts transparently with any stakeholder in the port community. ICTSI's portfolio of terminals and projects spans developed and emerging market economies in the Asia Pacific, the Americas, and Europe, the Middle East and Africa. ICTSI has received global acclaim for its public-private partnerships with governments divesting of their port assets to the private sector. (www.ictsi.com)