CAPE TOWN - Transnet National Port's Authority has launched a tender for a private operator. This is to finance, upgrade and run the multipurpose terminal at the Port of Cape Town.
The successful bidder for terminal concession will operate the facility for 25 years.
It forms part of Transnet's drive to increase private-sector participation in South Africa's ports.
The operator will be responsible for redeveloping, maintaining and running the terminal.
Transnet is reacting after the port was declared the worst in the world, battling congestion, equipment breakdowns and weather-related disruptions.
Cape Town Mayor Geordin Hill-Lewis has welcomed the move, saying greater private-sector involvement is critical to improving efficiency, boosting trade and supporting economic growth.