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ICTSI, PNG landowner communities strike deal to move Motukea port project forwards
MANILA's International Container Terminal Services, Inc (ICTSI) has inked a landmark agreement with impacted landowner community groups in Motukea, Papua New Guinea to set up a collaborative framework needed to fast track the development of the joint Motukea and Lae port project.
"We are privileged and excited to have been granted the opportunity to collaborate with our host community to jointly realise the potential of the port of Motukea as a logistics hub," said ICTSI senior vice president Christian Gonzalez in a statement.
ICTSI won 25-year concessions to operate the ports of Lae and Motukea. Just one week earlier, ICTSI subsidiary South Pacific International Container Terminal Limited (SPICTL) and the ICTSI Foundation signed a similar memorandum of agreement to enable the Lae project to proceed.
The memorandum of agreement upholds the subscription and shareholders agreement (SSA) included in the terminal operating agreement (TOA) with PNG Ports Corporation Ltd for Motukea.
ICTSI's obligations under the agreement involve meaningful engagements with host communities through corporate social responsibility (CSR) initiatives.
"The ICTSI Foundation will work closely with local leaders and organisations to determine beneficiaries and the appropriate projects to ensure the development not only of the projects but also of the impacted communities," the company statement added.
"We are privileged and excited to have been granted the opportunity to collaborate with our host community to jointly realise the potential of the port of Motukea as a logistics hub," said ICTSI senior vice president Christian Gonzalez in a statement.
ICTSI won 25-year concessions to operate the ports of Lae and Motukea. Just one week earlier, ICTSI subsidiary South Pacific International Container Terminal Limited (SPICTL) and the ICTSI Foundation signed a similar memorandum of agreement to enable the Lae project to proceed.
The memorandum of agreement upholds the subscription and shareholders agreement (SSA) included in the terminal operating agreement (TOA) with PNG Ports Corporation Ltd for Motukea.
ICTSI's obligations under the agreement involve meaningful engagements with host communities through corporate social responsibility (CSR) initiatives.
"The ICTSI Foundation will work closely with local leaders and organisations to determine beneficiaries and the appropriate projects to ensure the development not only of the projects but also of the impacted communities," the company statement added.
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