ICTSI to buy controlling stake in Karachi's PICT container terminal
2012 03 10
- Details
INTERNATIONAL Container Terminal Services Inc. (ICTSI) plans to acquire a controlling interest of between 35 and 55 per cent in Pakistan International Container Terminal Ltd (PICT) that has an annual capacity of 750,000 TEU.
According to a Philippine Stock Exchange filing, the planned acquisition comprises 60.03 million ordinary shares at PKR10 (US$0.11) each. The company is listed with the Karachi Stock Exchange Guarantee Limited.
This comes as the Manila-bses global terminal operator posted 32.8 per cent growth in 2011's net income to reach US$130.5 million. The stronger performance was attributed to an increase in port revenues owing partly to the inclusion of earnings from ICTSI Oregon in the US and Adriatic Container Gate Terminal (AGCT) in Croatia.
Source Shipping Gazette - Daily Shipping News
The magazine SEA has been published since 1935
International business magazine JŪRA MOPE SEA has been published since 1999
The first magazine in Eurasia in the four languages: English, Chinese, Russian and Lithuanian
|
|