[ad_1]
Contecon Guayaquil SA (CGSA), a subsidiary of International Container Terminal Services, Inc. (ICTSI) in Ecuador, issued a statement saying that it signed an investment contract of $ 18 million with the Ecuadorian state to develop the Port of Guayaquil.
CGSA added that beyond the contract, CGSA plans to increase the total investment amount to $ 30 million as part of its commitment to enable and promote Ecuador’s foreign trade. The $ 18 million investment will increase the port’s capacity to handle Neopanamax vessels, to be carried out in three stages.
“This is a decisive complement to the joint commitment we have assumed to achieve great objectives in pursuit of the development of this sector,” announced José Antonio Contreras, General Manager of CGSA, who signed the contract together with Gabriel Martínez, Minister of Transport of Ecuador and Public works.
In 2018, CGSA spearheaded the creation of the Guayaquil Port Logistics Community, which provided supply chain stakeholders with a platform for stronger collaboration.
CGSA went ahead with the launch of Ecuador’s first transportation insurance program for the banana trade in 2019 to protect producers and the industry. Bananas are the country’s main export product after oil.
According to mb.com.ph, CGSA has been operating in the Port of Guayaquil since 2007 under a 20-year concession.
