ICTSI signs Madagascar port concession

ICTSI signs Madagascar port concession    Philippines-based International Container Terminal Services Inc. (ICTSI) has today signed a 20-year container terminal operating concession for the Indian Ocean port of Toamasina, Madagascar.
   ICTSI said the port of Toamasina handles more than 90 percent of Madagascar’s container traffic, with volumes projected to double over the next five years from 104,000 TEUs handled last year to 228,000 TEUs in 2009.
   ICTSI formed a new company, Madagascar International Container Terminal Services Ltd., to manage and operate the port, directly employing 350 of the dock personnel employed to undertake cargo-handling operations at the port.
   Investment will take place on a phased basis, initially concentrating on developing and equipping a clearly defined container handling area at the rear of the two berths, C2 and C3, ICTSI said. ICTSI added the introduction of modern IT systems is a priority as well as expansion of quay infrastructure and handling capacity.