International Container Terminal Services, Inc. (ICTSI) has been declared the preferred bidder for the concession of the development, operation and maintenance of the multipurpose terminal of the Port of Kribi in Central Africa.
In a disclosure, the port operator said the Port Autonome de Kribi made the declaration on June 14, and parties will now engage in exclusive concession contract negotiations ahead of the final contract signature.
Located in Cameroon, the Port of Kribi is a newly built port with a deep draft. The multipurpose terminal consists of 265 meters of berth and 10 hectares of yard.
Kribi port is surrounded by the Kribi Industrial Area, a 262-square-kilometer reserved land destined to accommodate new industrial and logistical developments supporting the Cameroon-Chad-CAR (Central African Republic) Corridor economic growth.
The concession contract has a duration of 25 years or until 2045.
ICTSI chairman and president Enrique K. Razon, Jr. had earlier mentioned the company’s push into Africa. “Even if global trade doesn’t grow at all, which is more or less my expectation, overall, you’ll have strong growth in places like Africa and some other markets,” he said.
ICTSI develops, manages, and operates container terminals in six continents around the world.
