ICTSI remains on expansion mode even as risks abound

Ports tycoon Enrique Razon Jr.is keeping an eye out for expansion opportunities in four regions as the billionaire indicated he has no plans of standing idle even in the face of emerging risks.

- ELIJAH FELICE ROSALES

Razon yesterday announced that International Container Terminal Services Inc. (ICTSI) would keep on branching out in areas where it sees potential for business expansion.

Razon, who chairs ICTSI, said the company is on the lookout for new investments in the regions where it is most successful, namely, Asia, Africa, Latin America and the Middle East.

ICTSI is raising its capital expenditures by more than a third to $450 million this year, from $336.32 million in 2023. The company is optimistic it can sustain growth even as it is faced with global uncertainties, from economic risks to political tensions.