"Private sector participation in Pier 2 is a key catalyst for repositioning the Port of Durban as a container hub port. We are delighted to have a global player of ICTSI's standing on board to drive this process,"Durban Harbour, the largest and busiest shipping terminal in sub-Saharan Africa, handling up to 31.4 million tons of cargo each year, was 364th out of 370 in aof container port performance, while two other Transnet ports were in the bottom 10.
According to the firm, Transnet will have a 50% plus one share ownership in a new company that will administer the port for 25 years and work to increase its yearly capacity. "A new company will be formed to manage the operations at DCT Pier 2, in which Transnet will have majority ownership of 50% plus one share. The term of the transaction is 25 years, with an option to extend to a maximum of 30 years in the event that berth deepening of the North Quay at Pier 2 is delayed," Transnet said in aAccording to Transnet, there were six bids for the contract, including ICTSI, which runs terminals on six different continents.
"A total of 18 responses were received to Transnet's initial call for request for interest in August 2021, nine of them from global terminal operators. Following this, a total of 10 bids were shortlisted in response to a request for qualifications.
The company operates 34 terminal operations in 20 countries across six continents, including four in Africa.
Source: News Formal (newsformal.com)
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