Background After winning the international bid, Victoria International Container Terminal Limited (VICT) signed on 2 May 2014 an agreement with the Port of Melbourne Corporation for the design, construction, commissioning, operation, maintenance and financing of the Port of Melbourne’s new international container terminal and empty container park at Webb Dock. The agreement will deliver a global standard in modern container terminal design, innovation and operations, and will become the flagship facility in Australia’s premier port. VICT is 100 percent owned by International Container Terminal Services, Inc. (ICTSI). The project marks ICTSI’s first entry into Australia. The contract grants VICT the rights to design, build and operate the new terminal at Webb Dock and design, build and operate the new, on-port Empty Container Park at Webb Dock East. The lease concession extends to 2040. VICT’s development for Webb Dock Container Terminal utilises the best-proven technologies and innovations to deliver fully-automated operations from the gate to the quayside. Location VICT is located in the Port of Melbourne, the capital of the State of Victoria, which is Australia's second most populated state. The Port is the largest container and general cargo port in Australia with a capacity of 2.5 million TEUs.