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ICTSI ventures into Congo with terminal investment

ICTSI ventures into Congo with terminal investment
Manila-headquartered terminal operator International Container Terminal Services Inc (ICTSI) has continued its forays into emerging markets with a deal to build a $100m terminal in the Democratic Republic of Congo.

ICTSI Congo DR is to be located on the Congo river in Matadi, serving the region and the capital Kinshasa. A joint venture owned 60% by ICTSI and 40% by Simobile SPRL the first phase of the terminal will consist of two berths with a total length of 350 m and capable of handling 120,000 teu and 350,000 tonnes of cargo a year.

Capital expenditure on phase I of the terminal is estimated at $100m and it is due to start operations in 2015. A planned second phase would double the size of the terminal.

“We are looking forward to bringing new and improved service to this fast growing economy.  We believe we can make a positive impact and decrease total transportation time and cost through this modern and efficient facility,” said Jens Floe, ICTSI senior vice president for the Africa Region.

It will be ICTSI’s third terminal in Africa, adding to projects in Lagos, Nigeria and Madagascar.