International Container Terminal Services (ICTSI) has reached an agreement with Société de Gestion du Port Autonome de Toamasina (SPAT) to extend its concession for the Madagascar International Container Terminal by 15 years.
With this extension, the concession will continue from 2025 to 2040.
Since 2005, the concession for the terminal has been held by Madagascar International Container Terminal Services Limited (MICTSL), a wholly-owned unit of ICTSI.
Port of Toamasina operates as the key maritime gateway for Madagascar, with MICTSL offering container handling services.
The port is currently involved in carrying out a $639m expansion project.
The Japan International Cooperation Agency (JICA) offered $411m to fund the project while $227m has been provided by the Government of Madagascar.
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This port expansion project aims to enhance the capacity of the gateway in the coming years.
ICTSI senior vice-president and EMEA head Hans-Ole Madsen said: “When ICTSI, working with SPAT, first established a container terminal operation in Toamasina, it quickly became widely recognised as a centre of excellence in the region.
“In this new phase of development, we aim to maintain this momentum, drawing on our industry expertise, new technology, attention to sustainability and applying the principles of good corporate citizenship.”
Quay and yard capacity expansions will be conducted under container sector upgrades.
A new 756m container berth with a draught of -16m will be added to the port along with ship-to-shore container gantries.
This will enhance the port’s ability to handle ships with a capacity of up to 14,000 twenty-foot equivalent units (TEUs).
A 15ha container yard, comprehensive security infrastructure, new gate complex and modern workshop will also be developed.
Additionally, the port’s reefer capacity will be raised from 120 plugs to more than 400 plugs
In March, ICTSI installed an artificial intelligence (AI)-powered operational optimisation solution at its flagship Manila International Container Terminal.