International Container Terminal Services, Inc. (ICTSI) subsidiary Kribi Multipurpose Terminal (KMT) has signed a concession contract to develop, operate and maintain the multi-purpose terminal at Port of Kribi, Cameroon.
In a regulatory disclosure, ICTSI said the concession contract with the Port Autonome de Kribi entails two phases of developing the newly built deep-water port located 150 kilometers (km) South of Douala. Phase 1 consists of 265 meters of berth and a 10-hectare yard. Phase 2 consist of an additional 350 meters of berth and 23-hectare yard.
Kribi port is surrounded by the Kribi Industrial Area, a 262 square-km zone destined to accommodate new industrial and logistical developments supporting the growing Cameroon economy and the Cameroon-Chad (Central African Republic transit) Corridor.
The concession contract has a duration of 25 years or until 2045.
ICTSI Senior Vice President and Regional Head for Europe, Middle East and Africa Hans-Ole Madsen in a statement said: “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 – an area home to more than 50 million people. We already have a team on the ground – headed by Mrs. Kathy Magne – and we expect to be fully operational within the next couple of months.”
KMT is purposely built to handle multipurpose shipping services including roll-on/roll-off, project and heavy lift cargo, forestry products, dry bulk and other general cargoes, and to offer support services to the oil and gas industry. KMT provides 16 meters of deep water access and is equipped with state-of-the-art handling equipment including two mobile harbor cranes, providing an annual capacity of 1.5 million tons. KMT is capable of accommodating the largest vessels plying the waters today.
ICTSI said it will further invest in KMT’s infrastructure and superstructure, and by 2024 the port will double in size. The expansion will include additional modern handling equipment, storage facilities and modern IT platforms.
ICTSI develops, manages, and operates container terminals in six continents around the world. Two of these terminals are also in Africa—Congo and Madagascar.