International Container Terminal Services Inc (ICTSI) plans to expand its port operations in the Middle East, Africa and Eastern Europe, according to the Manila Standard.
ICTSI chairman Enrique Razon said in Syria, where ICTSI operates the Tartous container terminal, that the company was seeking to operate container terminals in ports in Saudi Arabia, Jordan and Kuwait.
Razon said the Tartous Port, where ICTSI had invested close to US$40 million, had been growing because of Syria's strategic location in the Gulf region.
“April was the best month because the Syrian economy, in spite of the crisis, has been growing and we are getting transit cargo bound for Iraq and transshipment cargo from the Mediterranean. We are happy with our investment,” the ICTSI chairman said.
Razon said the ICTSI could also expand its investments in the Tartous port, the second largest in Syria, if the shipment volume continued to grow after clinching a 10-year agreement to operate TICT in 2006.
“We are also eyeing other ports in the Middle East, Africa, and Eastern Europe,” Razon said.
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