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ICTSI secures bid for Port of Kribi

MANILA PNA | The International Container Terminal Services Inc. (ICTSI) has been declared as the preferred bidder for the development, operations and management of the Port of Kribi in Cameroon for 25 years.

“On 14th of June 2019, ICTSI has been declared preferred bidder for the concession of the development, operation and maintenance of the Multi-Purpose Terminal of the Port of Kribi by the Port Autonome de Kribi. Parties will now engage in exclusive concession contract negotiations ahead of final contract signature,” ICTSI said in a disclosure to the stock exchange on Monday.

The Port of Kribi is a newly built terminal which is projected to become a major port and logistics platform in the Central African sub-region.

The multipurpose terminal includes 265 meters of berth and 10 hectares of yard.

The transaction is expected to further increase the presence of ICTSI in Africa. It currently operates the Madagascar International Container Terminal, ICTSI DR Congo S.A, and Africa Gateway Terminal in Sudan.

The ICTSI has operations in 18 countries, namely the Philippines, Indonesia, China, Pakistan, Australia, Papua New Guinea, Mexico, Honduras, Colombia, Ecuador, Brazil, Argentina, Poland, Croatia, Georgia, Iraq, Madagascar and the Democratic Republic of Congo. (PNA)

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8 comments

  1. When a business is all over the place and there is no rival in the horizon, it is called a MONOPOLY!

  2. There should be a clause for such a strategic infrastructure built on tax payers money to be awarded to a foreign conglomerate unless a local partner has 49% stake in it.

    • Camer believer (Colby)

      @Mbappe I agree with you but the most important for me is to see if things will be any different from the bollore concession.

  3. Who were the other bidders ?

  4. Hehehehehe a port is not an end in itself but a tool for a vibrant and industrious society. Mais Ces Jouisseurs devant l’eternel?
    Oh non. Nothing will come out of this port.
    Am-ba as always will be vindicated

  5. It is always a joy to acquire something that places a country in the big league. But there ends the joy if there is no corresponding culture of maintenance, sustainability, etc. Taxis soon fall apart if the owner fails to plow back some of its earnings for upkeep.
    This is true for taxis, buses, stadiums, aircraft, oil refineries, highways, airports, embassies, .
    .

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