International Container Terminal Services Inc. (ICTSI) said Monday it acquired a marine property in Rio de Janeiro, Brazil to expand its existing operations.
ICTSI said wholly-owned subsidiary ICTSI Americas B.V. acquired a 47-percent interest in FII Inhaúma (Inhauma Fundo de Investimento Imobiliario-FII) which has perpetual rights in a property where ICTSI intends to develop a future private use terminal (TUP).
ICTSI said the property has about 32 hectares of inactive shipyard called “Estaleiro Inhaúma” in Rio de Janeiro adjacent to ICTSI’s Rio Brazil terminal.
The company said ICTSI Rio Brazil planned to use the property as additional capacity for its existing operations.
“The acquisition of this property represents an investment opportunity for ICTSI for the development of the area and, thus, potential expansion of the total operational and logistics capacity of the port region of Rio de Janeiro,” ICTSI said.
The company allocated around $580 million for 2025 capital expenditure, an increase from $517.14 million it spent last year.
The planned investments will focus on several key areas. A significant portion will continue the development of the new Batangas project in the Philippines.
Expansions are also underway at CMSA in Manzanillo, Mexico (phase 3B), MICT in Manila and IDRC in Matadi, Democratic Republic of Congo.
