INTERNATIONAL Container Terminal Services Inc. (ICTSI) said the International Centre for Settlement of Investment Disputes (ICSID) has registered an arbitration it filed together with Honduras unit Operadora Portuaria Centroamericana, S.A. de C.V. (OPC) against the Republic of Honduras.
The registration is part of the court proceedings for the ICSID to hear the arbitration case.
The move follows the withdrawal by the Honduras government from the ICSID Convention in February and will take effect this August 25.
“In the arbitration proceedings, ICTSI and OPC alleged that the Republic of Honduras has breached certain obligations,” ICTSI said.
It was quick to add, however, the case will have no impact to the day-to-day operations and management of the Honduras operation.
ICTSI also said it is “open (to) further discussions with the government of Honduras to seek appropriate solutions.”
Previous reports said the issue stems from ICTSI’s claim its $250- million concession in Honduras has been jeopardized by plans for a rival container terminal.
The cases are recorded under case numbers ARB/24/34 and ARB/24/33 in the ICSID.
ICTSI’s Honduras operation started in 2013.
