PNG Ports expects productivity to improve
It had executed terminal operating agreements with the Filipino company to provide terminal services at Motukea in Port Moresby and Lae Tidal Basin in Morobe.
They signed two 25-year agreements.
The ICTSI is a global terminal operator with at least 28 ports under its management in 17 countries.
It is listed on the Philippines stock exchange.
“An important aspect of the new terminal operator services arrangements is the transition of the affected communities into equity ownership positions in the terminal operating companies alongside ICTSI. Discussions with respect to this transition are currently in progress,” a company statement said.
“Similar discussions are underway with respect to employment opportunities for the local affected communities.”
PNG Ports expects the start of operations under the new terminal services arrangements to start in the first quarter of 2018.” The National / ONE PNG