Africa’s biggest harbor will be partly owned and operated by the Philippines’ International Container Terminal Services Inc., a first for South Africa’s national ports company.
The company, known as ICTSI, has been selected as an equity partner to run and expand Durban Container Terminal Pier 2.
Almost three quarters of the freight volume moved through the eastern port goes through the terminal and it accounts for 46% of South Africa’s total port traffic, according to state logistics company, Transnet SOC Ltd.
This agreement “is a key catalyst for repositioning the Port of Durban as a container hub port,” Transnet said in a statement on Monday.
South Africa is seeking to boost private participation in its ports, the poor performance of which is a drag on the economy. In a 2021 World Bank index of container port performance, Durban ranked 364th out of 370 and two other Transnet ports were in the bottom 10.
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