INTERNATIONAL Container Terminal Services Inc. (ICTSI) said that it would spend $125 million over the next two years to increase the infrastructure and cargo-handling capabilities of the Manila International Container Terminal Inc. (MICT).
In a disclosure to the Philippine Stock Exchange (PSE), ICTSI said the Berth 6 Project, which would increase the MICT’s annual capacity to 2.5 million twenty-equivalent units (TEUs) is targeted to commence full vessel operation by June 2012.
In addition, ICTSI also committed to pay a lump sum fee of P670 million on May 2013 for the extended term of another 25 years reckoned from May 19, 2013 and the payment of fixed fee of $600 million in 100 quarterly installments and variable fee of 20 percent of the gross revenue earned at MICT.
Published : Thursday May 17, 2012 | Category : Top Business News | Views : 151
By : MAYVELIN U. CARABALLO REPORTER
P275-million loan approved for Metro Manila’s wastewater treatment systemTo improve Manila Bay’s water quality, the World Bank’s Board of Executive Directors approved a $275-million financing for a project that will improve wastewater collection and treatment practices in several catchment areas of Metro Manila, the WB said in a statement released... Read more
Published : Thursday May 17, 2012 | Category : Top Business News | Views : 138
By : AFP
FRANKFURT: German Finance Minister Wolfgang Schaeuble stressed on Wednesday that it was not possible to renegotiate an international aid plan for Greece. Read more
Published : Thursday May 17, 2012 | Category : Top Business News | Views : 162
BEIJING: A slew of bleak data has raised fears that China’s economy is cooling faster than previously thought, but analysts said that Beijing has only limited means to prevent a politically damaging slowdown. Read more
