International Container Terminal Services Inc. said the concession for its Madagascar operation has been extended by another 15 years.
In a statement, ICTSI said it has signed the extension for the Madagascar International Container Terminal with the Société de Gestion du Port Autonome de Toamasina (SPAT) at the port city of Toamasina.
“The concession extension runs from 2025 through to 2040,” the company said.
ICTSI has held the concession since 2005 through its wholly owned subsidiary Madagascar International Container Terminal Services Limited (MICTSL).
The concession calls for ICTSI to develop, manage and operate modern container terminal facilities in the Port of Toamasina, Madagascar’s main commercial port.
“The extension agreement was signed by Valery Ramonjavelo, SPAT chairman, and Hans-Ole Madsen, ICTSI senior vice president and head of Europe Middle East and Africa (EMEA).
