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21-08-2018

ICTSI supports infra projects in Ecuador to boost foreign trade

Contecon Guayaquil, International Container Terminal Services, Inc.’s (ICTSI) largest port project in Latin America, renewed its support and commitment to the Ecuadorian government after the latter announced the construction of the Guayaquil South Viaduct–a 44.2-kilometer road project that would connect the Guayaquil Port with the south-central areas of the country’s coast and the highlands.

The project will establish a more efficient link between the nation’s production centers and the city of Guayaquil, Ecuador’s business capital, and is expected to encourage investments and boost foreign trade.

“We stand behind the Ecuadorian government in its vision to establish better trade movement and access to the maritime port. This infrastructure project–one of the most important civil developments to be undertaken by the country–is a step in the right direction towards boosting foreign trade and the national economy,” said Jose Antonio Contreras, Contecon Guayaquil Chief Executive Officer.

“Upon completion, the viaduct will optimize travel time resulting in considerable cost reduction in moving goods and usher more efficient port operations that hopefully lead to a more vibrant economic activity,” he adds.

Announced during the 483rd anniversary celebration of Guayaquil’s independence, the project is divided into four sections: Cacique Tomala avenue, from South Bridge on the Guayas River, including a 7.6-kilometer bridge on the Cobina River; a 3.4-kilometer Bridge over the Guayas River–the longest in the country; end of the Guayas River bridge to the Puero Inca-Narajal route spanning 21.7 kilometers; and a bifurcation, 11.5-kilometer link with the Duran-Boliche route.

Meanwhile, the Guayaquil city government also announced it has received four proposals from foreign companies for the dredging of the port’s access channel. Deeper waters would allow larger vessels to call the port, leading to the more efficient movement of import and export commodities.

In July, Contecon Guayaquil was approved by the government to handle up to 305-meter mega vessels–essentially becoming the first and only container terminal in Ecuador capable of handling two mega vessels simultaneously. This follows the inauguration of the terminal’s new greenfield development in January–an expanded logistics support area capable of handling more than 6,000 containers.

“These new developments only show ICTSI’s continuing commitment to the development of Guayaquil by consolidating and expanding its position as Ecuador’s main trading gateway. With investments in modern infrastructure, Contecon will progressively raise the bar in container and general cargo handling operations in Ecuador,” said Anders Kjeldsen, ICTSI Vice President and Regional Head for the Americas.

Ecuadorian President Lenin Moreno, who graced the inauguration, cited ICTSI for its commitment to Guayaquil and for being a good example for the Government’s public-private partnership program.

“In these [new] facilities, ICTSI invested USD 10 million. In these 10 years, they have already invested USD360 million–USD35 million more than expected. Thank you very much for this. Good for the company, for Guayaquil, and the country,” said President Moreno.

ICTSI has pledged USD325 million for the 20-year concession period to operate the Guayaquil Container and Multipurpose Terminals at the Port of Guayaquil, which will end in 2027.

Source: Press Release

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