Baltic Container Services (BCT), International Container Service Inc’s subsidiary in Poland, has inked a new subsidy agreement with the Center of European Union Transport Projects for part of the investment needed for the terminal expansion project at Gdynia Port.
The US$17.3m subsidy has been granted as part of an infrastructure and environment programme measure that focuses on the development ofiIntermodal transport in the region.
Baltic Container Services (BCT), International Container Service Inc’s subsidiary in Poland, has inked a new subsidy agreement with the Center of European Union Transport Projects for part of the investment needed for the terminal expansion project at Gdynia Port.
The US$17.3m subsidy has been granted as part of an infrastructure and environment programme measure that focuses on the development ofiIntermodal transport in the region.
It will form a portion of the total of the US$49.2 needed for the expansion project at the terminal – which is expected to be completed in 2015. The money will go towards purchasing new equipment, modernising the yard area and road improvements.
This is part of ICTSI's overall strategy to increase BCT’s annual capacity by 60% from 750,000 to 1.2m teu. BCT at Gdynia Port is already one of the biggest terminals in the Baltic region and Poland's largest.
And it’s not only Baltic intermodality that ICTSI is focusing on. The Manila Bulletin reported this week that ICTSI Mauritius Ltd has signed a deal to buy 35% of Pakistan International Container Terminal Ltd (PICT) at Karachi Port. This is subject to the relevant clearance from governmental agencies in Pakistan. The operator is also rumoured to be undertaking a tender offer for even more PICT shares.
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