Southern terminal acquisition for ICTSI

Manila: International Container Terminal Services Inc (ICTSI) has taken over the majority control of a private terminal in the southern Philippine island of Davao and will now set about developing facilities there, the company announced yesterday.
ICTSI now controls 65% of Hijo International Port, located in Tagum, Davao del Norte in the Gulf of Davao. ICTSI bought the stake from Hijo Resources. The port has two berths and will now be upgraded to handle reefer cargoes. One of the port’s main cargoes historically has been bananas. Established in 1959, Hijo Resources is one of the pioneers in the cultivation and exportation of Cavendish bananas to Japan.  [15/11/12]

Related Posts