The Namibian Ports Authority (Namport) is close to finalising a 25-year concession agreement with Terminal Investment Limited (TIL), a subsidiary of the MSC Mediterranean Shipping Company, for the operation of the new Container Terminal at the Port of Walvis Bay.
TIL was selected as the preferred bidder in a competitive process that also included Abu Dhabi Ports.
“We are 95% complete with negotiations,” stated Namport Chief Executive Officer Andrew Kanime. He told The Brief that Namport hopes to conclude the negotiations and sign this year before the holiday break.
The concession agreement will see TIL take over the operation of the terminal, handling cargo in lieu of an upfront payment to Namport. The exact terms and conditions of the agreement are still being finalised, including the details of personnel transitions.
The decision to concession the N$4.2 billion new container terminal, commissioned in 2019, was driven by significant changes in the shipping industry and challenging economic conditions. Namport aims to recoup its investment and leverage TIL’s expertise to enhance the port’s efficiency and competitiveness.
TIL, founded in 2000, operates 60 terminals across 31 countries, handling at least 60 million TEUs annually. The company’s global reach and experience are expected to bring significant benefits to the Port of Walvis Bay and the Namibian economy.
In addition to the Walvis Bay project, Namport is also planning to initiate port expansion at Lüderitz next year to support the country’s growing oil and gas, and green hydrogen industries. These developments underscore Namport’s commitment to positioning Namibia as a key maritime hub in Southern Africa.
