International Container Terminal Services Inc., the global port operations business of tycoon Enrique Razon, said Tuesday it was selected as “preferred bidder” for the 25-year joint venture that will operate and further develop the container terminal in Port of Durban in South Africa.
The Philippine-listed port operator said Transnet SOC Ltd, a South African government state-owned company that owns South Africa’s railway, ports and pipelines infrastructure, has announced the selection ICTSI as joint venture partner of Transnet Port Terminals for the operation and further development of Durban Container Terminal.
DCT Pier 2 is Transnet’s biggest container terminal, handling 72 percent of the Port of Durban’s throughput and 46 percent of South Africa’s port traffic. The terminal has 1,760 meters of operational quay length and 120 hectares of container storage and backup area.
ICTSI, which operates nearly three dozen terminals in 20 countries, said the final award is subject to completion of its legal agreements with Transnet.
