Loginter S.A. Invites Philippine Port Operator Investment In Argentinean Port Project

August 23, 2008 12:32 p.m. EST

Manila, Philippines (AHN) - Philippine port management company International Container Terminal Services, Inc. was invited by Argentinean firm Loginter S.A. to be its partner in a port project in La Plata, Argentina.

"ICTSI Ltd. was invited by Mr. Ricardo Raul Roman of Loginter S.A., the original proponent, to invest in and participate in the project," the company said in a disclosure on Friday to the Philippine Stock Exchange.

ICTSI executives witnessed a signing of a concession agreement for the development of an all-purpose port terminal at the Port of La Plata.

Port authority Consorcio de Gestion del Puerto La Plata granted the concession in favor of Tecplata S.A., which will build and operate an all-purpose port terminal at the headwaters of River Santiago Este, south of Buenos Aires.

The project, however, is still subject to regulatory approvals and other terms and conditions.

ICTSI said it will make the appropriate disclosures once the conditions for its investment and participation in the project are complied with, according to the Manila Standard Today.

The La Plata project will be ICTSI's second investment foray to Argentina. The company was former operator of a container terminal in Buenos Aires in the 1990s.

The port operator has existing port operating contracts and projects in the Philippines, Brazil, Ecuador, Colombia, Poland, Georgia, Syria, Madagascar, Indonesia, Japan and China.