The Philippine ICTSI will acquire 51% of the container terminal of the Croatian port of River



In recent days the terminalista group Philippine International Container Terminal Services, Inc. (ICTSI) has signed an agreement of the duration 30-year-old in order to assume the control of the Adriatic Gate Container Terminal (AGCT), the society that work the Brajdica Container Terminal of the Croatian port of River.

The understanding has been undersigned from ICTSI Capital BV, Dutch society integrally controlled from group ICTSI, and the Luka Rijeka DD, the harbour authority of the port of River that stops the entire capital stock of AGCT, and previews that ICTSI Capital acquires 118 actions of total AGCT for 92,9 million kuna (about 12,53 million euros) and signs 12,088 actions of AGCT for 15 million euros pe to obtain 51% of the capital stock of AGCT.

The agreement is subject to a series of conditions and the approval from the Croatian authorities, activities that will have to be capacities to term within three months from the signature of the preliminary understanding.

ICTSI previews to invest beyond 70 million euros in the container Croatian terminal in the arc of the 30 years in order to upgrade the system also through the means acquisition new of handling, between which crane of dock super-Post Panamax, and other equipments and systems of management and safety.

The terminal, that Adriatic Gate will be renamed Container Terminal, will be object of work of potenziamento in the within of the second phase of the project of construction of the system in order to put it in a position to receiving two large ones at the same time portacontainer. The realization of the works, that it is assigned in the days from Luka Rijeka to the Croatian consortium Viadukt with a contract of the value of beyond 16,9 million kuna, includes the construction of a new dock of 328 linear meters with depth of the backdrop of -14,5 meters and the ulterior widening of 50,000 square metres of the storage area in order to elevate the annual ability to traffic to about 600.000 teu.

While group ICTSI has archived item 2010 with a decided increment of the economic performances having recorded a profit clearly of 97,8 million dollars on revenues for 527,1 million dollars, with increases respective of 88% and 25% on the exercise anniversary 2009. The EBITDA is piled to 247,7 million dollars (+41%). The result clearly includes extraordinary proceeds deriving from the cession of 9.54% of the Subic Shipyard and Engineering Co., of 8.56% of the Consort Land, Inc. and of other properties; with the exclusion of such returns the profit clearly of 2010 turns out to be of 88,9 million dollars (+62% on 2009).

Last year the terminals of the Philippine group have enlivened a traffic of the container pairs to 4.202.574 teu, with a progression of 18% regarding 3.557.256 teu in 2009. In the last trimester of the 2010 traffic it has been of 1.132.328 teu, in increase of 11% regarding 1.023.350 teu in the period October-Decembers of 2009.

In entire the 2010 Asian terminals of the group they have enlivened 2.652.328 teu (+18%), the terminals in the Americas have enlivened 1.048.971 teu (+20%) and the terminals in Europe, Middle East and Africa have totaled 501,275 teu (+17%).