International Container Terminal Services Inc. moved closer to winning a port concession deal in Sudan, a disclosure to the Philippine Stock Exchange showed.
ICTSI, controlled by gaming and ports tycoon Enrique Razon Jr., said it was named the “preferred bidder” to operate and manage the South Port Container Terminal (SPCT) at the port of Port Sudan, Republic of the Sudan for 20 years.
The next step, ICTSI said, was to enter into negotiations with the Sea Ports Corp. of Sudan (SPC) “with the purpose of concluding the concession agreement.”
The agreement calls for a concessionaire to resume the operational and development responsibility for SPC’s existing container terminal infrastructure and terminal handling equipment.
SPCT has state-of-the-art container terminal assets spanning about 180 hectares and 1,200-meter quay wall.
It has a design water depth of up to 16 meters allowing it to handle global shipping lines’ largest container vessels. Moreover, it has equipment that includes eight ship-to-shore gantry cranes and an extensive range of yard handling equipment.
In 2017, it handled a total volume of 470,000 twenty foot equivalent units, or TEUs. Its total capacity is in excess of one million TEUs, the disclosure showed.
The bidding process was led by SPC with Hamburg Port Consulting as international advisor. Other bidders included France’s Bolloré and Dubai’s DP World, according to reports overseas.
The move is part of ICTSI’s ongoing push to expand its presence in emerging markets overseas.
As of March this year, ICTSI had 31 terminal concessions and port development projects across 18 countries.
It operates in the Philippines, Indonesia, China, Ecuador, Brazil, Poland, Georgia, Madagascar, Croatia, Pakistan, Mexico, Honduras, Iraq, Argentina, Colombia, DR Congo, Australia, Papua New Guinea, and Mexico.
ICTSI’s group-wide volume stood at around 9.15 million TEUs as of end-2017.