ICTSI inks 25-year concession for Cameroon’s Kribi terminal
Port management company International Container Terminal Services, Inc. (ICTSI) has signed a concession contract with the Port Autonome de Kribi (PAK) for the development, operation and maintenance of the Kribi Multipurpose Terminal (KMT) in Cameroon.
With the signing of the contract, KMT, a subsidiary of ICTSI, is now 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. Phase 1 consists of 265 + 63 meters of berth and a 10-hectare yard. Phase 2 will include an additional 350 meters of berth and 23 hectares of yard.
Kribi port is surrounded by the Kribi Industrial Area, a 262 square-kilometer zone destined to accommodate new industrial and logistical developments supporting the growing Cameroonian economy.
“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,” Hans-Ole Madsen, ICTSI Senior Vice President and Regional Head for Europe, Middle East and Africa, commented.
“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.”
KMT is purposely 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.
The facility provides 16 meters of deep water access and is equipped with 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, according to ICTSI.
The port developer plans to further invest in KMT’s infrastructure and superstructure — the port is expected to double in size by 2024. The expansion will include additional modern handling equipment, storage facilities and IT platforms.