ICTSI bags 30-year deal to operate port in Indonesia

Port tycoon Enrique Razon Jr. has taken another step to expand business presence in Indonesia, this time bagging a 30-year contract to operate a flagship terminal in Batam Island.

- By ELIJAH FELICE ROSALES

Razon-led International Container Terminal Services Inc. (ICTSI) has entered into an agreement with PT Batam Terminal Petikamas (BTP) for the operations and maintenance of the Batu Ampar Container Terminal (BACT).

BTP signed the deal with PT Batu Ampar Container Terminal, which is 75 percent controlled by ICTSI and 25 percent owned by PT Interport Sarana Infrastruktur Indonesia.

The agreement covers a 30-year concession to manage BACT. The facility is located close to the Malacca Strait, one of the world's most important trade routes.