ICTSI’s entry into Papua New Guinea gets full backing from community landowners
Community landowner groups in Lae are backing International Container Terminal Services Inc’s proposed development of two international ports in Motukea and Lae in Papua New Guinea.
South Pacific International Container Terminal Ltd, a subsidiary of ICTSI, had signed a memorandum of agreement with AHI Investments Ltd. and Labu Holdings Ltd., a necessary step to jumpstart the Razon-led port operator’s community project in Lae.
ICTSI recently signed a 25-year concession to develop and operate two international ports in Lae and Motukea.
“We are committed to developing the new Lae terminal into a world class facility and the best in South Pacific. We will not only be investing in ship-to-shore gantry cranes and the highest levels of information technology but, most importantly, into training and human capital. We are excited and privileged to be working with the local communities on fostering a highly productive local workforce, “ said Christian R. Gonzalez, ICTSI senior Vice President and head of Asia Pacific.
For his part, SPICT chief executive officer Edward Muttiah said: “We are glad to move forward with our commitments in PNG together with ourpartner communities. As with all our port projects, we are delighted to have local stakeholders on board so that we can be truly effective and successful.”
The MOA also affirms the subscription and shareholders agreement included in the terminal operating agreement with PNG Ports Corporation Limited for the Port of Lae. AHI and LABU will each have a 15 percent share in SPICTL.
In terms of labor, SPICTL will source its workforce from AHI and LABU.