The world's biggest port carrier Hutchison Port Holdings said it entered into an agreement to gain a 30-year operation right over port of Manta, Ecuador.

Hutchison Port Holdings, a subsidiary of Hutchison Whampoa Limited, is planning to set up an international port company in that country with USD 523 million investments.

Moreover, the company will build, develop and operate a container port which will cover a land area of 63 hectares with a total coast line of 1,250 meters and a front-end water depth of 16 meters in port of Manta. The port is scheduled to come into operation in 2007.

Port of Manta, then, will see its annual container throughput go up from current 43,000 TEUs to 2.2 million TEUs.

In addition, the port carrier will also create a fishing ship dock to provide more berths there.