The Toamasina Port authorities formally handed over last month the new container terminal facility to Madagascar International Container Terminal Services Ltd., a unit of ICTSI that will manage and operate the port under a 20-year concession awarded in June.
"Our total investment over the short term in infrastructure, equipment, IT systems and human resources will easily exceed $30 million," Jan Mors, the ICTSI senior vice-president overseeing the Madagascar project, said in a statement.
He said while the current investment program is being rolled out, the company is now developing detailed plans for the further development of the terminal over the longer term. This, he added will necessitate further sizable investment in all key areas.
ICTSI plans to introduce new container handling facilities and operating expertise in Toamasina as well as upgrade the port’s services. It said that upgrading information technology systems will be a priority, along with the expansion of the port’s cargo-handling capacity.
ICTSI expects containerized cargo traffic for Madagascar to increase to 228,000 20-foot equivalent units (TEUs) by 2009 from last year’s total of 104,000 TEUs.
TEU is the standard measure for containerized cargo.
The privatization of Toamasina’s operation is intended to promote a sustainable transport sector strategy for Madagascar, which is supported by the World Bank.
ICTSI is one of the pioneers of container terminal management and operation on an international basis having been involved in this activity since the early 1990s.
It is widely acknowledged to be a leading developer in the sector, specialising in container terminals in the 50,000 TEU to 1.5 million TEU range, maintaining an international management team with unrivalled expertise.