ICTSI, Anglo Ports unit to build Melbourne's third container port terminal 

International Container Terminal Services Inc. (ICTSI) and its partner Anglo Ports Pty. Ltd., through a subsidiary, is building the third container port terminal of Melbourne.
 

Victoria International Container Terminal Limited (VICTL) on Friday signed a 26-year contract with the Port of Port of Melbourne Corp. to design, construct, commission, operate, maintain and finance the Terminal and Empty Container Park (ECP) at Webb Dock East (WDE) in the Port of Melbourne, ICTSI said in disclosure to the Philippine Stock Exchange. 
 

ICTSI, through wholly-owned subsidiary ICTSI FE, owns 90 percent of Victoria International, while Anglo Ports owns 10 percent of the unit.
 

The lease concession, won by VICTL  through bidding, extends to 2040 enabling a competitive platform for the development of ICTSI’s business in Australia, according to the disclosure.
 

Victoria International is investing around $407 million for the project, which forms part of the A$1.6- billion port capacity project of the Port of Melbourne.
 

“This new concession represents a major milestone for ICTSI, not only because it is our first concession in Oceania, but also because it establishes us as one of very few truly global operators with facilities on six continents," said Christian Gonzalez, ICTSI head of Asia Pacific region.
 

“It is a premier project in a country that is considered to be a leader in infrastructure development, and we plan to introduce leading edge and proven technologies that will consistently deliver the highest levels of port performance," Gonzalez noted.
 

" We are likewise excited by the fact that many innovations are geared towards ensuring seamless interaction between the Port, the City of Melbourne, and its surrounding communities, something we believe to be critical in the container terminals of the future,” he added.

VICTL intends to start construction works later this year, and the terminal is expected to start operating in December 2016. – VS, GMA News