Africa’s Biggest Port Durban to be Partially Privatized


Africa’s biggest port, Durban, Privatized

Transnet, the state logistics company of South Africa, has selected International Container Terminal Services Inc. (ICTSI) as an equity partner to manage and expand Durban Container Terminal Pier 2. The move is part of South Africa’s efforts to increase private participation in its ports, as the poor performance of the ports has been a drag on the economy.

Transnet will own a 50% plus one share in the new company that will manage the terminal, and it aims to increase the terminal’s annual capacity to 2.8 million twenty-foot equivalent units (TEUs) from the current two million TEUs. Transnet’s ultimate goal is to boost Durban’s total container capacity to 11.4 million TEUs from 3.3 million TEUs. The financial details of ICTSI’s stake and the funding for the expansion were not disclosed.

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