Razon-led ICTSI expands budget for Ecuador port

International Container Terminal Services Inc. (ICTSI) has ramped up spending in Ecuador, where it runs the Contecon Guayaquil SA (CGSA). The global container port operator, controlled by Filipino billionaire Enrique Razon Jr., has already spent about $360 million on the project over a decade. This is above the $325 million it had pledged to invest over a 20-year period through 2027. "Our public-private partnership in the Port of Guayaquil is one of the most successful concessions in our portfolio. The government's thrust, through its approval for CGSA to handle mega vessels, speaks of our excellent track record in operating the port. It represents the harmonious relationships w...

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