Philippine firm International Container Terminal Services (ICTSI) will present a private initiative to modernize the Muelle Norte terminal at Peru’s Callao port under a “management contract” whereby national ports operator Enapu will run the port, according to transport and communications (MTC) minister Enrique Cornejo.

“The Philippine firm will invest in the port and manage it, while Enapu remains in charge of operating the facility. It’s a management contract,” Cornejo told state news agency Andina.

This kind of contract is included in the country’s public-private associations law, Cornejo added.

ICTSI has yet to formally present its private initiative to modernize Muelle Norte, but has presented a letter of intention, according to Cornejo.

The company will be the third to bid for the terminal, following Dubai-based port operator DP World, which presented a US$1.3bn initiative in 2008, and Netherlands’ APM Terminals, which made a US$1.9bn offer in February this year.

National ports operator Enapu has said it is keen to operate Muelle Norte, an option that is not included in the proposals of DP World or APM Terminals, which involve concession contracts.

“We will do what’s best for Peru and for Callao, and will make a decision very soon,” Cornejo said.

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