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PNG Impacted Community Landowner Groups Ink Agreement with ICTSI

Chennai:

Port Wings News Network:

Impacted community landowner groups in Lae in Papua New Guinea have signed an agreement with International Container Terminal Services, Inc. (ICTSI) through the ICTSI Foundation and ICTSI subsidiary South Pacific International Container Terminal, Limited (SPICTL) as a necessary first step towards moving the joint ICTSI-community project in Lae.

The MOA, which was signed together with AHI Investments Ltd. (AHI) and Labu Holdings Ltd. (LABU), establishes a collaborative framework in support of ICTSI’s port project in Lae. ICTSI recently signed 25-year concessions to operate Lae and and Motukea.

Christian R. Gonzalez, ICTSI senior Vice President and head of Asia Pacific, said:  “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. ”

On the other hand, Edward Muttiah, SPICT chief executive officer, said “We are glad to move forward with our commitments in PNG together with our partner 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 (SSA) included in the Terminal Operating Agreement (TOA) with PNG Ports Corporation Limited for the Port of Lae.  Under the SSA, AHI and LABU will each have a 15 percent share subscription in SPICTL.

In terms of labor, SPICTL will source its workforce from AHI and LABU. On equal footing with the business side of the agreement, ICTSI will also undertake meaningful CSR efforts for the benefit of these host communities.

The ICTSI Foundation will work closely with the AHI Hope Foundation, the Honorable John Rosso – Member of Parliament for Lae open electorate, and other relevant community leaders in implementing community service projects on law and order, health, waste management and education.

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