Improving port services vital

By SHIRLEY MAULUDU
PHILIPPINE port operator International Container Terminal Services Inc says the opportunities created by improving port infrastructure and services to the PNG economy are many.
The company recently signed two 25-year agreements to operate Papua New Guinea’s international wharves at Motukea in Port Moresby and the Lae Tidal Basin in Morobe.
According to the company’s disclosure to the Philippine Stock Exchange, the terminal operating agreements were signed on July 31 by its PNG subsidiaries, Motukea International Terminal Limited (MITL) and South Pacific International Container Terminal Limited (SPICTL), with Ports Corporation Limited for the management and development of the two ports.
The agreements and other related contracts will take effect after all the parties have complied with conditions.
The MITL will provide and deploy cranes, berth and yard equipment for the Motukea port.
The SPICTL will provide and deploy cranes, berth and yard equipment at the Lae port.
Christian R. Gonzalez, ICTSI head for the Asia-Pacific Region and MICT, said that he could not disclose the costs because this is a commercial matter and therefore confidential.
“We expect satisfaction of the conditions to be settled in the coming months,” he said.
“The market is a good sized one compared to many of the markets we operate in.
“And we are particularly bullish on the growth of Papua New Guinea and the long-term potential of the country.
“The opportunities that improving port infrastructure and services will deliver to the economy are many and we envision PNG to certainly be one of the more exciting projects in our portfolio because the investments and developments will have a very rapid impact on economic growth within Lae and Motukea and their communities.”