ICTSI upgrades port for banana growers
Hijo International Ports Services Inc. (HIPS), a joint venture between Hijo Resources Corp. (HRC) of the Tuason family of Davao and port operator International Container Terminal Services Inc. (ICTSI), is poised to develop and upgrade the facilities of Hijo international port in Davao del Norte to be able to handle containerized cargo especially for bananas, Malaya reports.
In a disclosure, ICTSI said that through its subsidiary Abbotsford Holdings Inc. (AHI), it has acquired controlling interest in HIPS, which owns the Hijo international port, a private commercial port in Madaum, Tagum town.
ICTSI said it acquired subscription rights to 40 million common shares in HIPS, bringing AHI’s ownership in HIPS to 163,500,000 shares which now constitute a controlling 65 percent of the outstanding capital of HIPS.
Hijo international port currently handles 300,000 metric tons of cargoes, mostly bananas.
The port sits within a reclaimed area totaling 10.3 hectares and has two berths, 127 meters long and 150 meter long.
The port has two cargo sheds located in the wharf area and various terminal support facilities.
“HIPS under the management of ICTSI will now develop and upgrade the facilities and capacity of the port to handle containerized cargo, especially in refrigerated containers,” ICTSI said in the disclosure.
It said the upgrade will be implemented in phases.
HRC is a diversified company engaged in leisure and tourism, agribusiness, property development and port operations.
The company operates the Hijo port for stevedoring and arrastre. In agriculture, its products include bananas, coconuts and selected fruits. In leisure and tourism development, HRC operates Lanikai and Banana Beach Resort.
HRC was set up in 1959 and is one of the pioneers in the cultivation and export of Cavendish bananas to Japan.
