Manila-based container port operator International Container Terminal Services (ICTSI) has entered into a concession contract with the Port Autonome de Kribi (PAK) for the development, operation and maintenance of the Kribi Multipurpose Terminal (KMT) in Cameroon.
Under the agreement, ICTSI is the official concessionaire of the multipurpose terminal for the next 25 years.
KMT is a newly built deep-water port located 150 kilometers south of Douala. It is purpose built to handle multipurpose shipping services including roro, project and heavy lift cargo, forestry products, dry bulk and other general cargoes, and to offer support services to the oil and gas industry.
“Our purpose as a company is to make the Port of Kribi a driver for positive and sustainable growth, thus ICTSI will work diligently to partner the Cameroonian business community by providing efficient and safe port services. Our services will act as a catalyst for Cameroons foreign trade and we will actively promote the Kribi Logistic Corridor – encompassing Cameroon, Chad, Central African Republic, Republic of Congo, Equatorial Guinea and Gabon,” said Hans-Ole Madsen, ICTSI senior vice president and regional head for Europe, Middle East and Africa.
ICTSI will further invest in KMT’s infrastructure and superstructure, with an aim to double the size of the port by 2024.