Biggest African Port to Be Partially Privatized
- Philippine port operator to help expand key container terminal
- Agreement is the first port privatization for Transnet
The Port of Durban.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
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.