International Container Terminal Services (ICTS) of the Philippines will commence operations at Tartous container terminal in early 2007, following the signing of its operating concession with Tartous Port General Company (TPGC). Under the 10-year build-operate-transfer concession signed in late November, ICTS will invest $37 million to develop the terminal at Tartous port, 258 kilometres west of Damascus. 'The terminal upgrade will target the local market first before looking at the potential of Jordan and Iraq,' says ICTS vice-president Harsh Khare.
The existing facility includes a 540-metre-long-quay with a depth of 12-13 metres and a 14.5-metre entrance channel. The port has a total yard area of 25,000 square metres and a container freight station area of 15,000 square metres as well as a connection to the Syrian railway network. ICTS' agreement has a five-year extension option (MEED 4:8:06).
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.