ICTSI poised to take over Cameroon port

MANILA, Philippines — International Container Terminal Services Inc. (ICTSI) is poised to further strengthen its position as a global ports operator giant as it looks to add the Port of Kribi in Central Africa in its extensive portfolio.

In a disclosure to the Philippine Stock Exchange, ICTSI said it has been declared  by the Port Autonome de Kribi on June 14 as the preferred bidder for the concession of the development, operation, and maintenance of the multi-purpose terminal of the Port of Kribi.

“Parties will now engage in exclusive concession contract negotiations ahead of final contract signature,” ICTSI said.

ICTSI said the concession contract has a duration of 25 years until 2045.

The Port of Kribi, located in Cameroon, Central Africa, is a newly built port with deep draft. The multi-purpose terminal consists of 265 meters of berth and 10 hectares of yard.

It is surrounded by the Kribi Industrial Area, a 262-square kilometer reserved land expected to accommodate new industrial and logistical developments supporting the Cameroon-Chad-CAR (Central African Republic) Corridor economic growth.

ICTSI is a publicly listed company in the Philippines which has port operations all over the world. It has at least 16 ports in the Asia and the Pacific including ports in the Philippines, two in Africa, seven in the Americas, and four in Europe and the Middle East.

The company announced in January its expansion in Sudan through its wholly owned subsidiary ICTSI Middle East DMCC after the firm emerged as the preferred bidder for the contract to operate, manage, and develop the South Port Container Terminal at Port Sudan.

The South Port Container Terminal has a land area of 180 hectares and 1.2 meters quay wall, with a design water depth of up to 16 meters.

In March, however, Agence France-Presse reported that Sudanese President Omar al-Bashir had ordered a review of the ICTSI deal involving the transfer of the container terminal at Port Sudan after hundreds of workers in February went on strike in protest against the transaction.

ICTSI earlier said it continues to engage the Sudanese government with the expressed desire to take over the port.