Contecon Guayaquil (CGSA), the Ecuador subsidiary of International Container Terminal Services, Inc. (ICTSI), has penned an investment contract with the Ecuadorian government to further strengthen and develop the port of Guayaquil.
The contract was signed between CGSA and Ecuador’s Ministry of Transportation and Public Works.
CGSA will invest $18m to boost Guayaquil port’s capacity to handle neopanamax vessels. Related: ICTSI Cameroon begins operations at the Port of Kribi
There will be three phases of development, with the first being to raise the height of quay cranes five and six from 42 metres to 52 metres, and extend their boom lengths from 50 metres to 56 metres.
The second stage involves works to reinforce the docks and the third stage will further deepen the pier one’s draft to 13.5 metres. “This is a decisive complement to the joint commitment we have made to achieve great objectives in pursuit of the development of this sector,” said Jose Antonio Contreras, CGSA general manager.
Beyond the contract, CGSA intends to increase the total investment to $30m as part of its commitment to promote Ecuador’s foreign trade. CGSA has been operating at Guayaquil port since 2007 under a 20-year concession. Last December, the concession was extended for another 20 years until 2047.
CGSA started servicing neopanamax vessels in 2019 following the dredging of the 95-kilometre access channel leading to the port of Guayaquil. Copyright © 2020. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.