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Puerto Cortes, HondurasInternational port operator International Container Terminal Services Inc. is set to sign the $600-million port modernization contract of Puerto Cortes in Honduras.
A technical committee composed of members of the Commission for the Public-Private Alliance, an entity of the federal government of Honduras, and FICOHSA bank, the trustee of the conferred contract, announced on Feb. 1 that ICTSI won the contract for the design, finance, construction, preservation, operation and exploitation of the terminal for 30 years.
ICTSI’s net income increased 4 percent to $105.8 million in the first nine months of 2012 from $101.4 million a year ago, as revenues grew 7 percent to $524.7 million from $490.9 million.
The port operator plans to bid for other ports in the Philippines and other countries. A company executive said earlier it would bid for the P4-billion expansion project of Davao Sasa Wharf in Mindanao.
More in the Manila Standard Today
BNSF Railway’s net earnings rose 13.5 percent year-over-year from $2.97 billion in 2011 to $3.37 billion in 2012, Berkshire Hathaway reported.
Yearly revenue was $20.84 billion in 2012, increasing 6.6 percent from $19.55 billion in 2011.
BNSF will spend about $4 billion on the railroad in 2013, roughly double its depreciation charge, according to Berkshire Hathaway, owner of the railroad, in a written statement.
More at the Journal of Commerce
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