Transnet signs a 25-year port deal with ICTSI


Transnet has finally signed an R11 billion partnership with a Philippines-based port operator to expand and upgrade the Durban Container Terminal (DCT) Pier 2.

Two years ago, International Container Terminal Services Incorporated (ICTSI) won the contract to operate the continent’s biggest container hub over a period of 25 years.

Wednesday’s signing of the deal comes after a Durban court ruling in October dismissed a challenge by one of the losing bidders.

Transnet Group Chief Executive Michelle Phillips says this is a historic private-public partnership aimed at revitalising the country’s ports saying that the port will modernise with new technologies also being implemented at the terminal.

“We will see new equipment being commissioned in this terminal, we will see this terminal’s capacity being increased from 2 million Twenty-foot Equivalent Units (TEU) to 2.8 million TEUs and the country will see this terminal improving in efficiencies and just being able to be more globally competitive, which is what we need right now,” says Phillips.