International Container Terminal Services (ICTSI), the preferred bidder for the upgrade of Durban Pier 2 Terminal, will on Wednesday appeal the decision that halted its appointment for the 25-year concession.
In October the KwaZulu-Natal High Court ordered Transnet to halt further implementation of the agreement until the matter could be considered in court in favour of losing bidder AMP Terminals, a subsidiary of AP Moller-Maersk.
ICTSI said it believes the court erred significantly in granting the interdict. It said the full review of the awarding of the contract by Transnet to ICTSI, lodged by Maersk, will still proceed in March 2025 regardless of the outcome of its application for leave to appeal.
“ICTSI’s appeal does not affect the timeline or court dates of the main case. Should the appeal against the interdict be successful, Transnet may continue to implement its agreement with ICTSI in parallel to the main case’s processes,” it said.
“Maersk has misleadingly argued that ICTSI does not meet a non-defined definition of solvency — a metric used to show its financial ability to meet its obligations.
“ICTSI disputes Maersk’s narrow interpretation of how solvency should be calculated and disputes that the matrix was a mandatory pass/fail.”
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