ICTSI Ecuador invests $ 30 M in the port of Guayaquil

(The general manager of CGSA, José Antonio Contreras (far left) with the governor of Guayas, Luis Chonillo (center), and the Minister of Transport and Public Works of Ecuador, Gabriel Martínez, during the signing of the investment contract in the port of Guayaquil on October 2..)

Contecon Guayaquil SA (CGSA), a subsidiary of International Container Terminal Services, Inc. (ICTSI) in Ecuador, said that it signed an investment contract of $ 18 million with the Ecuadorian state to develop the Port of Guayaquil.

In a statement, CGSA said 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.

CGSA’s $ 18 million investment will boost the port’s ability to handle Neopanamax vessels, which will be carried out in three stages.

The first stage will raise the height of quay cranes 5 and 6 from 42 meters to 52 meters, and will extend the length of their arms from 50 meters to 56 meters (20 rows).

The second stage includes works to reinforce the piers, while the third stage will further deepen the draft of Pier 1 to 13.5 meters.

“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.

CGSA began serving Neopanamax vessels in 2019, becoming the first port in the country capable of handling this large class of container ships after dredging the 95-kilometer access channel that leads to the Port of Guayaquil.

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.

CGSA operates in the Port of Guayaquil since 2007 under a 20-year concession.

Last December, the Guayaquil Port Authority extended the concession period for another 20 years, which allowed the company to operate until 2047.