International Container Terminal Services Inc., through its wholly owned subsidiary ICTSI Americas B.V., has acquired majority control over a company owning a property in Rio de Janeiro, which the Philippine port operator plans to use for its expansion.

In a disclosure to the Philippine Stock Exchange, ICTSI said it has acquired an additional 26 percent interest in FII Inhaúma (INHAÚMA FUNDO DE INVESTIMENTO IMOBILIÁRIO - FII), increasing its ownership to 73 percent.

FII Inhaúma has perpetual rights in a property where ICTSI intends to develop a future Private Use Terminal (TUP). The property has approximately 32 hectares of inactive shipyard called "Estaleiro Inhaúma”, located in the City of Rio de Janeiro, adjacent to ICTSI’s RIO Brazil terminal.

The acquired property will be used by ICTSI RIO Brazil as additional capacity for its existing operations and potential new activities.

The firm noted that, “The acquisition of this property represents an investment opportunity for ICTSI for the development of the area and, thus, potential expansion of the total operational and logistics capacity of the port region of Rio de Janeiro.”

“The total consideration is less than 10 percent of ICTSI's total consolidated shareholders' equity as of Dec. 31, 2024 and was paid in cash,” ICTSI said.

ICTSI’s Rio Brasil Terminal is strategically located in Brazil’s largest economic region. Serving the surrounding expanse of import-export hubs, the terminal leverages its extensive fleet of container handling equipment and its deep draft to efficiently accommodate the simultaneous berthing of large container vessels from global shipping lines.

The range of resources that pass through the port at Rio de Janeiro is quite diverse, including motor vehicles and auto parts, minerals, and stones—such as ornamental granite, valued for its durability and timeless elegance.

With its prime location in the state of Rio de Janeiro, one of Brazil’s top three exporting states, Rio Brasil Terminal offers unique maritime, road, and rail access.

It has the advantage of access to superior logistics infrastructure in the state, and proximity to major oil and gas industrial centers.