ICTSI acquires new property in Brazil

Logistics giant International Container Terminal Services Inc. (ICTSI) has acquired a stake in a marine property in Rio de Janeiro in line with plans to ramp up operations in Brazil.

- By ELIJAH FELICE ROSALES

ICTSI yesterday said it has purchased a 47-percent interest in Inhauma Fundo de Investimento Imobiliario-FII (FII Inhauma) to kick off its expansion projects in Brazil.

FII Inhauma owns perpetual rights in a property in Rio de Janeiro where ICTSI eyes to develop a terminal for private use.

The property spans 32 hectares and houses an inactive shipyard called Estaleiro Inhauma. ICTSI wants to build a private use terminal in the location, as it is close to where Rio Brasil Terminal is situated.