The International Container Terminal Services Inc. (ICTSI) has been announced as the preferred bidder for the development, operations and management of the Port of Kribi in Cameroon for a period of 25 years.
As ICTSI informed, on 14th of June 2019 it has been declared the preferred bidder for the concession of the development, operation and maintenance of the Multi-Purpose Terminal of the Port of Kribi by the Port Autonome de Kribi. Parties will now conduct exclusive concession contract negotiations ahead of final contract signature.
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The transaction is expected to increase even more the presence of ICTSI in Africa, which currently operates the Madagascar International Container Terminal, ICTSI DR Congo S.A, and Africa Gateway Terminal in Sudan.
The Port of Kribi is a newly built terminal, and is projected to become a major port and logistics platform in the Central African sub-region. The terminal also includes 265 meters of berth and 10 hectares of yard.
