Port operator International Container Terminal Services, Inc. (ICTSI), through subsidiary ICTSI Americas B.V., has made a successful bid to acquire 100% of the shares of Libra Terminal Rio S.A. (Libra Rio), the concessionaire of a container terminal at the port of Rio de Janeiro, Brazil.
ICTSI, in a disclosure on July 18, said it was declared on July 17 as the winning bidder in the acquisition of 100% of the shares of Libra Rio from Boreal Empreendimentos e Participações SA. ICTSI said the parties will work on the signing of a share purchase agreement in due course.
Libra Rio holds the concession rights to operate, manage and develop Terminal de Contêineres 1 (T1Rio) at the port of Rio de Janeiro City.
The concession of T1Rio started in 1998, was extended in 2011, and will last until 2048.
ICTSI said it will assume the operational, developmental and other responsibilities under the current concession contract. The transfer of the facilities to ICTSI management is expected to take place after all the conditions precedent and required regulatory approvals have been obtained.
In 2018, T1Rio had a throughput of about 135,000 twenty-foot equivalent units (TEUs) and an estimated capacity of 530,000 TEUs.
Its state-of-the-art container terminal assets include five ship-to-shore gantry cranes and an extensive range of yard handling equipment, including more than 16 rubber-tired gantry cranes. It has a total land area of 18.8 hectares and a quay wall of 715 meters, with a designed water depth of up to 16 meters that makes it capable of receiving large container vessels.
Just last month, ICTSI was declared the preferred bidder of the concession on the development, operation and maintenance of the multipurpose terminal of the Port of Kribi in Central Africa.
Through another subsidiary, ICTSI Middle East DMCC, the port operator last January also signed a concession agreement with the Sea Ports Corporation of Sudan to operate, manage, and develop the South Port Container Terminal at the Port Sudan.
ICTSI develops, manages, and operates container terminals in six continents around the world.
