ICTSI and PSA to jointly develop Buenaventura’s Aguadulce terminal

Although construction was due to start by the second half of 2008, ICTSI embarked instead on a redesign of the facility and began the search for a partner to develop its bulk aspect.

On September 18, 2013 ICTSI and PSA International (PSA) announced that through their respective wholly-owned subsidiaries, they had signed an agreement to jointly develop, construct and operate the Aguadulce container terminal and ancillary facilities.

Under the terms of the agreement, ICTSI’s wholly-owned subsidiaries Kinston Enterprises Corporation and Future Water S.A. agreed to the purchase by PSA Colombia Pacific Pte. Ltd., a wholly-owned subsidiary of PSA, of SPIA shares representing 45.64% of SPIA’s issued and outstanding share capital, subject to the satisfaction of certain conditions.