Ensenada Container Terminal

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ICTSI was the only one of four initial participants in the privatization auction to submit a complete bid and was officially awarded on 20 March 1997 the 20-year concession to manage and operate the container terminal in the Port of Ensenada in Mexico. ICTSI's technical proposal and its financial bid of US$ 3.2 million was approved by the Integral Port of Administration of Ensenada. The terminal will have a capacity of 200,000 TEUs per annum. ICTSI planned investments of US$ 9 million in 1998 for equipment acquisition of two quay cranes, two rubber tired gantries and two top loaders and for engineering and construction of a 300-meter berth. The quay cranes were installed in July 1998. ICTSI's concession agreement includes a payment of about US$ 725,000 for the existing equipment plus another US$ 250,000 at the contract signing. Its offer has been structured as rent payments to the port authority over a 20-year period. The sum of the current value of these payments equals US$ 3.1 million. By the end of 1999, ICTSI has invested US$ 35 million in the terminal facilities. None None