International Container Terminal Services, Inc. (ICTSI) is expects the expansion of its terminal in Iraq to be completed by the third quarter of 2019.
The Razon-led port operator said in a statement the Basra Gateway Terminal (BGT) Phase 2 expansion will cost around $250 million.
“On completion of the current second phase expansion scheme, ICTSI will have invested in excess of $250 million, the lion’s share of which is for a new berth, yard construction, and state-of-the-art handling equipment,” ICTSI said.
The Phase 2 expansion will deliver 400 meters of new quay with a draft of 14 meters, together with a new 30-hectare yard area and a 15-hectare secure parking area.
“Underlining BGT’s ongoing commitment to maintaining high service levels, the latest round of development also includes the acquisition of a cutter suction dredger with the dual objective of ensuring strict adherence to the construction schedule and maintaining draft alongside the terminal’s new and existing births,” the company added.
The second phase development was triggered by strong demand, ICTSI said.
Last year, BGT, an ICTSI subsidiary, completed the first phase of its terminal greenfield project, which includes the construction of a new 250-meter berth and a 15-hectare yard area.
The subsidiary also undertook the development of quay and yard areas configured for the safe and efficient handling of oil and gas project cargo.
“Our commitment to helping Iraq develop international standard port infrastructure continues to expand,” said Hans-Ole Madsen, ICTSI senior vice president and regional head of Europe, Middle East, and Africa.
“We invested for the long term in fixed infrastructure since day one. We continue to receive strong and most encouraging assistance from the General Company for Ports in Iraq and other government bodies in this respect. We are confident that we can continue to build on this productive partnership to the benefit of port users and the country as a whole,” added Mr. Madsen. — Patrizia Paola C. Marcelo