Phillipino group wins Madagascar port contract-IFC

WASHINGTON, May 26 (Reuters) - Philippine port operator International Container Terminal Services Inc is the winning bidder to manage Madagascar's main port, the World Bank's private-sector lending arm said on Thursday.

Four large companies bid for the 20-year concession to operate and develop the container terminal at the eastern port of Toamasina in Madagascar, in a process overseen by the International Finance Corp's Advisory Services.

"The concession has been awarded to ICTSI. It is not signed yet but they are the official winner of the bid," the IFC's director for Advisory Services, Bernard Sheahan, told Reuters.

Reuters via Yahoo! Asia News Thu, 26 May 2005 6:51 AM PDT

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