Singapore-Philippine JV to develop Colombia terminal

A NEWLY formed Filipino- Singaporean joint venture (JV) has begun building a container terminal in the port of the coastal city of Buenaventura, Colombia, to cash in on the country's burgeoning demand for trade and logistics.

Estimated to cost US$180 million, the terminal pulls together Manila- listed International Container Terminal Service, Inc (ICTSI) and the Port of Singapore Authority (PSA).

Through their subsidiaries, ICTSI and PSA recently signed an agreement to jointly develop, build and run the terminal and its ancillary facilities in the port of Aguadulce in Buenaventura.