Philippine company reported to acquire 65 pct of local port

The Evyap Group is joining forces with an Asian partner for its company operating in the transportation sector. The Philippines-based International Container Terminal Services (ICTSI), one of the most important port management companies in Southeast Asia, is purchasing 65 percent of Evyapport.

According to the Turkish daily Dünya, Evyapport Container Terminal, which was opened for service in 2004, is the fourth largest private port in Turkey with an annual capacity of 855,000 20 foot equivalent units (TEU). Located in Kocaeli, Evyapport stands out with a berth of 1,171 meters on a total area of 265,000 meters and a depth of 16 meters.

Philippines-based ICTSI, which aims to acquire 65 percent of Evyapport, is listed by the Asian Development Bank (ADB) as one of the top five major port management companies in the world.

ICTSI, founded by Filipino businessman Enrique K. Razon, the third-richest businessman in the Philippines with a fortune of $5.2 billion, operates in 29 ports in Argentina, Australia, Brazil, China, Colombia, Congo, Croatia, Ecuador, Georgia, Honduras, Indonesia, Madagascar, Mexico, Nigeria, Pakistan and Poland. The company entered the U.S. market in 2010, taking over operation of the Portland port.

Among the most important operations of the company is Manila Terminal. The recent interest of Asian marine companies in Turkey thus continues with Evyapport. Earlier, Singapore-based PSA invested in Mersin Port, while in 2015, Chinese China Merchants Holding acquired 64.5 percent of Fina Liman, which is owned by Fiba Holding, for $ 919.2 million. Fina Liman operates Kumport Port located in Istanbul's Avcılar district.