{"id":2302,"date":"2025-12-10T10:28:19","date_gmt":"2025-12-10T10:28:19","guid":{"rendered":"https:\/\/microvibenews.com\/?p=2302"},"modified":"2025-12-10T10:28:19","modified_gmt":"2025-12-10T10:28:19","slug":"transnet-signs-25-year-port-agreement-with-billionaire-razons-ictsi","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=2302","title":{"rendered":"Transnet signs 25-year port agreement with billionaire Razon\u2019s ICTSI"},"content":{"rendered":"<p><\/p>\n<div id=\"textFreeArticle\">\n<p>South African port and logistics firm Transnet signed a concession agreement with a company headed by Filipino billionaire Enrique Razon to expand the main terminal at the continent\u2019s top container hub in Durban.<\/p>\n<p>The signing of South Africa\u2019s first port-privatisation deal comes two years after Transnet awarded International Container Terminal Services the right to buy almost half of Container Terminal Pier 2 and manage the facility for 25 years. Razon\u2019s firm will spend about R11 billion on its plans.<\/p>\n<p>Read:<br \/>How Durban is clawing its way off the \u2018world\u2019s worst port\u2019 list<br \/>Maersk fails to halt ICTSI-Transnet Durban Container Terminal deal<br \/>Transnet opens bidding for Durban multi-purpose terminal concession<\/p>\n<div class=\"visible-sm-block visible-xs-block m1010\">\n<div class=\"ad-container-wrapper\">\n<p>ADVERTISEMENT<\/p>\n<p>CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n<p>\u201cThis ground-breaking partnership is a step forward in Transet\u2019s ambition to be among the world\u2019s best ports,\u201d Transnet chief executive officer Michelle Phillips said at a ceremony in Durban on Wednesday.<\/p>\n<p>The agreement marks the biggest attempt yet to bring in private expertise to revive state-owned ports, which rank among the least efficient globally, according to the World Bank. Pier 2 handles about 70% of Durban port\u2019s total throughput and more than 40% of South Africa\u2019s container volumes, she said.<\/p>\n<p>\u00a9 2025 Bloomberg<\/p>\n<p><em>Follow Moneyweb\u2019s in-depth finance and business news on WhatsApp here.<\/em><\/p>\n<\/p><\/div>\n<p><script data-cfasync=\"false\">\n            !function(f,b,e,v,n,t,s)\n            {if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n                n.callMethod.apply(n,arguments):n.queue.push(arguments)};\n                if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n                n.queue=[];t=b.createElement(e);t.async=!0;\n                t.src=v;s=b.getElementsByTagName(e)[0];\n                s.parentNode.insertBefore(t,s)}(window, document,'script',\n                'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n            fbq('init', '779812924991616');\n            fbq('track', 'PageView');\n        <\/script>#Transnet #signs #25year #port #agreement #billionaire #Razons #ICTSI<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South African port and logisti&hellip; <\/p>\n","protected":false},"author":1,"featured_media":2303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[1022,57,2375,2377,2374,2376,1896,2373],"_links":{"self":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/2302"}],"collection":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2302"}],"version-history":[{"count":0,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/posts\/2302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=\/wp\/v2\/media\/2303"}],"wp:attachment":[{"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microvibenews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}