ICTSI , COALIANZA ironing concession agreement

March 13, 2013 10:49 am 

MANILA, Mar. 12 — The International Container Terminal Services Inc. (ICTSI) and Commission for the Public-Private Alliance Promotion (COALIANZA) are negotiating for the final signing of concession agreement to develop Puerto Cortés.

The contract has to be signed by the parties on April 2, which is 60 days from the date of the award.

ICTSI and COALIANZA are complying with several preconditions for the execution of the concession contract.

Once signed ICTSI will construct, maintain and operate the specialized container and general cargo terminal of Puerto Cortes, the main port of Honduras, which is Central America’s biggest port.

“The committed investment is US$ 624 million. ICTSI will start the port development around September 2013,” COALIANZA said.

ICTSI is required to put up at the inception a minimum capital stock of US$ 31.0 million. It has to pay certain contributions such as 4 percent of the gross income to the Municipality of Puerto Cortés, without considering the tax over sales, payable monthly.

Payment of US$ 100,000 to the National Port Company for each hectare occupied of the existing surfaces, which is payable annually.

An amount of US$ 75,000 for each hectare of the new built payable annually; a certain amount for each movement of the container of importation/exportation regardless if it is full or empty, with a right to reimbursement in an amount equivalent to 25 percent of the imposed amount; for the load not packed in containers, US$ 1 for each ton of fractioned load that is operated in the terminal; US$ 5 for each unit of rolling load that is operated in the terminal and US$ 1 for each passenger operated in the terminal.

Also an upfront payment of US$ 25.0 million with 70 percent paid on execution date of the agreement and the balance within 6 months from said execution date.

For COALIANZA, two percent of the total of the reference investment of the project, paid on execution date of the Agreement.

Lastly, for the trustee, FICOHSA Bank, a 0.37 percent of the annual gross income, payable monthly and US$ 1.584 million paid on execution date of the agreement.

On February 1, 2013, ICTSI bagged the project to operate the container terminals and general cargo of Puerto Cortés.

ICTSI will invest in infrastructure, such as conditioning and reinforcement of a dock, works of reorganization, conditioning and improvement of the current container yard, construction of the roadway access, fencing of the terminal and construction of the superstructure of the new specialized moorings and in equipment, which includes acquiring mobile cranes and gantry type quay gantry cranes.

The container and general cargo terminal of Puerto Cortés will have 1,100 meters of quay for containers and 400 meters of quay for general cargo, 14 meters of draft, 62.2 hectares of total surface area, 12 ship-to-shore cranes.

ICTSI said Puerto Cortes has an annual volume capacity of approximately 1.8 million TEUs. (PNA)



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