Global container terminal operator International Container Terminal Services (ICTSI) has recently announced plans to expand on its presence in Africa by investing in the privatisation of ports in both Kenya and Cameroon, according to Hellenic Shipping News.
In a recent news article by PTI, ICTSI released its annual profits for 2014, where it reported on a 24% increase in revenue to US$1.1bn.
Enrique K. Razon, Jr., Chairman and President of ICTSI, said: “We participated in [a] bid for Cameroon, [but] we still don’t know the results. There’s also this one thing big coming up in Kenya, Mombasa. Those two are both in Africa on the east.”
In early 2015, the terminal operator reported that it had taken full ownership of an Australian terminal and paid around $5.8m for the acquisition.
ICTSI are not the only terminal operator to make investment in ports as DP World has recently acquired the Prince Rupert Container Terminal, British Colombia, Canada for around $456m.