AFRICA

NPA & BIDVEST AGREE TERMS

21 years ago

Following the renegotiation of leases with Unilever, Commercial Cold Storage and Agriport, South Africas National Ports Authority (NPA) has agreed terms with Bidvest for the consolidation of 42 leases into nine and has thereby opened the door for increased investment by Bidvest in its portside facilities.

Work has already begun on the $24 million third phase programme; phase one cost $30 million and phase two $17 million.

With leases now secured for up to 20 years, Bidvest can safely proceed with investment plans which foresee an expenditure of US$81m over the next five years in Durban where its Bidfreight Terminals subsidiary handles around 10m tons of cargo a year.