PSA International and International Container Terminal Services (ICTSI) have signed an agreement to jointly develop, construct and operate a container port terminal and ancillary facilities in the Peninsula of Aguadulce, Colombia.

Under the terms of the agreement, PSA will take a 45.64 per cent stake in Sociedad Puerto Industrial Aguadulce (SPIA), an indirect subsidiary of ICTSI which holds the 30-year concession for the Aguadulce Port project granted by the Colombian authorities.

Upon completion of the agreement, PSA and ICTSI will jointly own 91.28 per cent of SPIA.