ICTSI to operate two ports in Papua New Guinea

International Container Terminal Services Inc. (ICTSI) on Monday said it signed two 25-year agreements with state-owned PNG Ports Corp. Limited to operate international ports in Papua New Guinea.

ICTSI treasury director Arthur Tabena said the agreements cover the ports in Motukea and Lae, and entail the operation, management, and development of both ports.

The agreements were signed by ICTSI's Papua New Guinea-based subsidiaries Motukea International Terminal Limited (MITL), and South Pacific International Container Terminal Limited (SPICTL).

MITL will provide and deploy cranes, berth, and yard equipment for the Port of Motukea to service all port and shipping activities previously done by the nearby Port Moresby.

SPICTL will do the same for the Port of Law, the largest container handling facility in Papua New Guinea.

"The agreements and other related contracts will take effect after all the parties have complied with agreed conditions precedent," ICTSI said.

ICTSI and its subsidiaries are involved in 28 terminal concessions and port development projects in 18 countries, including Argentina, Brazil, China, Colombia, Croatia, DR Congo, Ecuador, Georgia, Honduras, Indonesia, Iraq, Madagascar, Mexico, Pakistan, Philippines, and Poland.  — Jon Viktor Cabuenas/VDS, GMA News