South Africa Signs Port Agreement With Billionaire Razon’s ICTSI
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000South African port and logistics firm Transnet SOC Ltd. signed a concession agreement with a company headed by Filipino billionaire Enrique Razon to expand the main terminal at the continent’s top container hub in Durban.The signing of South Africa’s first port-privatization deal comes two years after Transnet awarded International Container Terminal Services Inc. the right to buy almost half of Container Terminal Pier 2 and manage the facility for 25 years. Razon’s firm will spend about 11 billion rand ($647 million) on its plans.