Transnet wishes to notify noteholders that the Company has concluded the process of selecting an equity partner for its flagship Durban Container Terminal (DCT) Pier 2. Transnet has selected an international terminal operator, 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 terminal.
DCT Pier 2 is Transnet’s biggest container terminal, handling 72% of the Port of Durban’s throughput and 46% of South Africa’s port traffic.
“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,” says Transnet Group CE Portia Derby.
The finalisation of the process follows approvals from Government in terms of the Public Finance Management Act (PFMA). ICTSI is a leading independent global developer and operator of origin and destination container terminals. ICTSI is headquartered in Manila, Philippines and is a publicly-listed company, traded on the Philippine Stock Exchange and the Over-the-Counter Markets Group in the United States. ICTSI is the largest independent terminal operator.
The company operates 34 terminal operations in 20 countries across six continents, including four (4) in Africa. It is ranked the eighth-largest container terminal operator in the world, according to twenty-foot equivalent units (TEU) equity volume (2021 Drewry ranking). In 2021/22 financial year, ICTSI handled over 12.2 million TEUs and generated more than 2.2 billion USD in gross revenues from port operations. ICTSI has 11 000 employees.
The partnership with ICTSI will help reposition the terminal for best practice performance, ensuring growth in volume throughput, and will support the terminal in providing operational and commercial support to access global shipping line call routes.
This will not only improve the logistics associated with servicing South African ports, but will play a significant part in stimulating exports and imports. This is a growth strategy for Transnet where Pier 2’s current capacity of 2 million TEUs is planned to increase to 2.8 million TEUs. This is aligned with plans by Transnet National Ports Authority (TNPA) 2 to increase the current container capacity in the Port of Durban from 3.3 million TEUs to an eventual envisaged capacity of 11,4 million TEUs.
For more information: 
Transnet SOC Ltd
Tel.: +27 11 308 3001
enquiries@transnet.net
transnet.net