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December 16, 2021

ICTSI unit Contecon Manzanillo to invest $230m for expansion project

In June 2010, ICTSI signed a 34-year concession for the development of TEC-II at the Port of Manzanillo.

International Container Terminal Services (ICTSI) business division Contecon Manzanillo plans to make an investment of $230m to expand its terminal’s facilities and enhance its infrastructure.

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Contecon manages the second specialised container terminal (TEC-II) at the Port of Manzanillo in Colima, Mexico.

The project aims to increase the yearly capacity of the terminal by 300,000 twenty-foot equivalent units (TEUs), from 1.4 million TEUs to 1.7 million TEUs.

This investment is being executed to support the ICTSI Group’s plan for improving the region’s supply chain.

The investment will be used for the procurement of quay cranes, rubber-tired gantries, port tractors and other equipment, along with the construction of berths and yards.

In a statement, ICTSI said: “All these will complement the public project for the expansion and the adaptation of land access to the terminal, which the Federal Government announced for Manzanillo in November.”

ICTSI Group and Contecon will commence the expansion project during the second half of next year.

In June 2010, ICTSI reached a 34-year concession for the growth and management of TEC-II at the Port of Manzanillo.

For operating the Port of Manzanillo, ICTSI formed a subsidiary, Contecon Manzanillo.

Recently, ICTSI signed an agreement with Société de Gestion du Port Autonome de Toamasina to prolong its concession for the Madagascar International Container Terminal until 2040.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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