ICTSI prequalified in Australia port project
Cliff Harvey C. Venzon, Business World online
RAZON-LED INTERNATIONAL Container Terminal Services, Inc. (ICTSI) has been prequalified to bid for a port project in Australia, the company said in a statement on Friday.
“ICTSI has been named among the short-list of bidders to build and operate Melbourne’s third international container terminal,” the company said.
Details such as the name and location of the port as well as its intended capacity were not immediately available.
ICTSI said it was partnering with New South Wales-based Anglo Ports Pty Ltd and two other parties for the bid.
If ICTSI wins the auction, the project could be the firm’s first port concession in Australia.
The company last February won a project to design, construct, and operate a port in Honduras.
ICTSI has local and international port operations. Aside from the Philippines, the company 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, United States of America, Uruguay, and Venezuela.
The company has programmed a $550-million capital expenditure this year for the “completion of the company’s terminal development projects in Argentina and Mexico and the ramp-up of construction activities in Colombia and Davao, southern Philippines.”
The firm’s net income grew by 20% to $43.2 million in January-March from $36.0 million in the same period last year, while net income attributable to equity holders rose by 15% to $40.7 million from $35.4 million.
This as revenues also surged by 20% to $209.3 million from $173.8 million on higher volume of cargoes handled.
Shares of ICTSI added 25 centavos or 0.27% to P92.25 apiece on Friday from P92.00 on Thursday.
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