ICTSI announces $100m investment plan to double Congo port capacity
International Container Terminal Services (ICTSI) has revealed a plan to invest $100m for the second phase expansion of its Matadi Gateway Terminal (MGT) in Democratic Republic of the Congo (DRC).
ICTSI said that the investment at MGT will double the terminal’s yearly throughput capacity to 400,000 twenty-foot equivalent unit (TEU).
According to the expansion plan, ICTSI will extend the quay from 375m to 500m, expand the terminal yard area to 10.5ha and deploy new equipment. The expansion is scheduled to begin next year.
According to a public-private partnership, ICTSI will dredge the Congo River to a depth of 12.5m.
The Philippines-based port operator noted that the expansion of MGT forms part of its plans to strengthen Matadi’s position as the most efficient port gateway to serve DRC capital Kinshasa.
To achieve this, Société Congolaise des Transports et des Ports (SCTP) will integrate new rolling equipment onto the rail system between Matadi and Kinshasa.
ICTSI Europe, the Middle East and Africa senior vice-president Hans Ole Madsen said: “The expansion of MGT is aligned with actual and projected container growth rates for the DRC and corresponds with cargo owner and shipping line requirements for the medium term.
“The market is seeing positive growth albeit off a relatively low base in terms of total demand. Studies suggest that Congo will achieve emerging market country status within the next ten years and as such we are very confident that this nearly $100m expansion plan anticipates the DRC’s requirements over this period and will deliver unrivalled efficiencies.”
In July, ICTSI America acquired Libra Terminal Rio (Libra Rio) from Boreal Empreendimentos e Participacoes in a PHP10bn ($195.4m) deal.
MGT is a joint venture (JV) between ICTSI and La Société De Gestion Immobilière Lengo (SIMOBILE). It is located approximately 92 miles upstream on Congo River’s left bank.