ICTSI Argentina begins operations

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INTERNATIONAL Container Terminal Services, Inc. (ICTSI) on Wednesday said its container terminal in Argentina has started operations.

In a statement, the listed port operator said the opening of TecPlata, located in Puerto de La Plata, was highlighted by the arrival of Jacaranda.

The vessel, which has an overall length of 218 meters and cargo capacity of almost 38 tons, is owned by Brazilian shipping line Log-In. Log-In recently forged a deal with TecPlata, a unit of ICTSI.

“This a first step for the company, and we firmly believe that this will pave the way for new agreements with more operators to maximize our current installed capacity of 450,000 TEUs (twenty-foot equivalent units),” Bruno Porchietto, TecPlata CEO, was quoted as saying in a statement.

Mr. Porchietto said the terminal still has room to double its current capacity to over one million TEUs.

Located 60 kilometers from Buenos Aires, TecPlata is considered the most modern port in Argentina. Around $450 million was invested in the port, which has an initial capacity of 450,000 TEUs.