ICTSI investing a $300M more in Melbourne portMelbourne – Filipino-owned international port operator ICTSI will invest A$300 million more for the development of the third phase in its soon to be operational Victoria International Container Terminal (VICT). Under its 26-year concession contract with the government-owned Port of Melbourne, the first phase of the 34.5-hectare international container port should be operational by end December this year. “We don’t have any deliverables anymore, except for the operation of the port,” Gonzalez said. “We’ve sunk in pretty close to A$550 million investment,” he said noting that they are going to stay within that investment commitment. ICTSI won the bidding to operate the third port in Melbourne in May, 2014.

Source: Manila Bulletin August 25, 2016 14:32 UTC