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The authorities of East Timor have selected Bolloré Logistics to develop the new port to be built at Tibar Bay through a public-private partnership model.
The firm beat out competition from three other shortlisted companies: International Container Terminal Services, Inc. (ICTSI), Mota-Engil - Ambiente e Serviço, SGPS, S.A. (MEAS), and The Peninsular and Oriental Steam Navigation Company (POSNCO).
The project involves the design, construction, finance and operation of the new port for a period of 30 years. It comprises the development of a 630 meter wharf with a draught of 15 meters, and a 24 ha yard along the western side of Tibar Bay, along with container storage, equipment and other infrastructure required by a modern cargo terminal.
The total project investment is estimated to be between US$300 million and US$400 million. IFC is advising the Government on implementation of the project.
Philippe Labonne, CEO of Bollore Ports and Deputy CEO of Bollore Transport and Logistics, stated:
"We are very proud to have been selected to work with the authorities of East Timor on this project. It will help to speed up the growth of the nation’s economy by facilitating trade with Asia and the rest of the world to the benefit of the whole population.”
Cyrille Bolloré, President of Bolloré Transport and Logistics, said:
"I am extremely pleased with this success which is in keeping with our strategy to deploy our different areas of expertise across all the markets where we are present. Our knowledge of the logistics market in East Timor, where our group has been developing its business for the last 16 years, enabled us to submit the best bid. It also demonstrates the ability of the Bolloré group to contribute to enhancing infrastructure in emerging countries.”