International Container Terminal Services Inc. said Tuesday it won a 25-year contract to operate and develop a container terminal in South Africa.
The port operator led by businessman Enrique Razon Jr. said Transnet SOC Ltd. declared ICTSI as preferred bidder for the 25-year joint venture with Transnet Port Terminals to operate and further develop its flagship Durban Container Terminal Pier 2 at the Port of Durban.
Transnet SOC is a government state-owned company that owns South Africa’s railway, ports and pipelines infrastructure.
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.
“Final award is subject to completion of legal agreements between Transnet and ICTSI,” ICTSI said.