A concession agreement has been signed between the management of the Kribi Deep Sea Port and the International Container Terminal Services (ICTS) for the transfer of the management of the Container Terminal of the port.
According to the terms of the agreement, the Philippine based company, ICTS takes over the management of the Multipurpose Container Terminal of the Kribi Deep Seaport for a period of 25 years.
The agreement was signed on behalf of the part by the Director General of the Kribi Port Authority, Patrice Melom while Kathy Magne, Manager of the Kribi Multipurpose Terminal (KTM) an affiliate of ICTS in Cameroon signed for her corporation.
Implication Of The Agreement
The signing of the partnership marks a new era for the management of the terminal as the subcontracting services of the Cameroonian partner, Kribi Port Multipurpose Operators (KPMO) has been terminated.
Officials of KPMO who have been handling the multipurpose terminal for about two years perceived the move as a doubt in local expertise.
The Philippine Company is expected to boost the competitiveness of the multipurpose terminal that first went operational in 2018.
Capacity Of The Kribi Deep Seaport
The Kribi Deep Seaport infrastructure covers a surface area of 26,000 hectares. It composes general port with a container terminal, a multipurpose terminal.
According to government’s specifications, the Kribi Deep Seaport is suppose to have an aluminium terminal and related plant, an oil terminal associated with a storage area and a cereal terminal.
It should also have a liquefied natural gas terminal, and a natural gas liquefaction plant.
The only constructed Deep Seaport in Cameroon so far will also be a yacht harbour, an industrial fishing harbour and a shipyard.
According to the calendar, construction of the different infrastructure is supposed to be carried out between 2012 and 2040, at a total cost estimated at CFAF 6,500 billion.
Upon completion the Kribi Deep Seaport is expected to generate 20,000 direct and indirect jobs.