PNG landowners clear new ICTSI port projects

MANILA, Philippines — International Container Terminal Services Inc. (ICTSI) has signed an agreement with landowner community groups in Papua New Guinea which will be affected by a new port project.

In a statement yesterday, ICTSI said it has signed an agreement with the Motukea impacted landowner community groups in Papua New Guinea.

The memorandum of agreement upholds the subscription and shareholders agreement included in the terminal operating agreement with the PNG Ports Corp. Ltd. for the port of Motukea.

Under the agreement, ICTSI’s obligations involve meaningful engagements with host communities through corporate social responsibility initiatives.

The ICTSI Foundation, for its part, will work closely with local leaders and organizations to determine beneficiaries and the appropriate projects.

“We are privileged and excited to have been granted the opportunity to collaborate with our host community to jointly realize the potential of the port of Motukea as a logistics hub. This mutually beneficial goal would not be possible without the support of our host communities,” Christian Gonzalez, ICTSI senior vice president and head of Asia Pacific and Manila International Container Terminal, said.

ICTSI bagged the deals to operate the ports of Lae and Motukea in Papua New Guinea.

The concession period for both projects is for 25 years.

Last week, ICTSI subsidiary South Pacific International Container Terminal Ltd. and the ICTSI Foundation signed a similar memorandum of agreement to enable the Lae project to move forward.

ICTSI, which was established in 1988 in Manila, is involved in the business of port development, management and operations.

Its portfolio of terminals and projects spans developed and emerging market economies in the Asia Pacific, the Americas, and Europe, the Middle East and Africa.