ICTSI to operate two ports in Papua New Guinea
Philippines port operator International Container Terminal Services (ICTSI) has signed 25-year agreements to operate two international ports in Motukea and Lae in Papua New Guinea.
Under the agreements two CTSI’s PNG subsidiaries, Motukea International Terminal and South Pacific International Container Terminal will be responsible for the operation, management and development of the two ports.
Motukea International Terminal will provide and deploy cranes, berth and yard equipment for the Port of Motukea, while South Pacific International Container Terminal will do similar at Port of Lae, which is the largest container handling facility in Papua New Guinea.
The latest deals tick ICTSI’s general investment boxes, namely to come in for emerging economies with little existing container infrastructure.