Durban based Transnet SOC Ltd (Transnet) has announced that it has chosen the Philippine based and Manila-listed International Container Terminal Services Inc. (ICTSI), as the preferred Bidder for the 25-year joint venture with Transnet Port Terminals (TPT) to develop and upgrade the Durban Container Terminal (DCT) Pier 2.

Transnet informs that the DCT Pier 2 container terminal is handling 72% of the Port of Durban’s throughput and also 46% of South Africa’s port traffic with its present capacity of 2 million TEUs, and with the plans after this deal to increase same to 2.8 million TEUs.

Transnet states that it will have majority ownership of 50% plus one share with the rest held by ICTSI in a new company, which will be formed in order to manage the operations at DCT Pier 2.

Portia Derby, CE Transnet Group says that “Private sector participation in Pier 2 is a key catalyst for repositioning the Port of Durban as a container hub port. We are delighted to have a global player of ICTSI’s standing on board to drive this process.”

Transnet finally informs that the result of the additional Ngqura Container Terminal process also will be announced soon.