Yaoundé - 25 November 2020 -

Port of Kribi: Filipino group ICTSI signs 25-year concession contract for the Multipurpose terminal

Port of Kribi: Filipino group ICTSI signs 25-year concession contract for the Multipurpose terminal
  • Comments   -   Wednesday, 29 July 2020 13:25

(Business in Cameroon) - On July 27, 2020, Kribi Multipurpose Terminal (KMT), the local subsidiary of Filipino group Philippin International Container Terminal Services Inc. (ICTSI) and the Port Authority of Kribi (PAK) signed a 25-year concession contract for the exploitation of the multipurpose terminal of the Port of Kribi.  

This signature is the conclusion of an international tender process launched in early 2019. During the process, KMT, a subsidiary of ICTSI, illustrated itself with an offer that is extremely convincing and sustainable concerning investment and traffic diversification. The PAK warmly welcomes this new operator into the port community,” the port authority revealed.

Let’s note that this contract was signed over a month after approval from the Presidency of the republic. Indeed, following instructions from President Paul Biya, Ferdinand Ngoh Ngoh, general secretary of the Presidency, sent a correspondence (signed on June 4, 2020) authorizing Patrice Melom, General Manager of the PAK, to sign the contract with ICTSI.

The financial agreement (investments and fees to be paid to the government) of this contract has not been revealed yet. Meanwhile, pending the commencement of ICTSI’s effective operations as a concessionaire, the multipurpose terminal (whose nominal yearly capacity is 1.2 million tons) will be operated by Kribi Port Multi Operators (KPMO), a consortium of nine Cameroonian operators, till the end of this year.

Sylvain Andzongo

“The State of Tax Justice 2020: Tax Justice in the time of COVID-19. ” This is the title of a report recently published by three NGOs (the Global Alliance...
On November 19, 2020, in Yaoundé, the Minister of SMEs, Social Economy, and Handicrafts (Minpmeesa), Achille Bassilékin III, chaired a workshop aimed at...
In a statement issued on November 24, 2020, the Italian company Piccini (withdrawn from the construction of the Olembé stadium) opposed the auctioning of...
On November 23, 2020, in Yaoundé, (at the opening of the 23rd, 24th, and 25th ordinary sessions of the Inter-ministerial Committee for the Assignment of...

Mags frontpage

Business in Cameroon n93: November 2020

Cashew, Cameroon’s new source of revenues

Covid 19 : “Making the team’s health a priority”

Investir au Cameroun n103 Novembre 2020

L’anacarde, la nouvelle source de recettes du Cameroun

Covid 19 : « La santé des équipes avant tout »