Aitken Spence sign up with Fiji Ports Corp.

Aitken Spence PLC announced through the Colombo Stock Exchange filing that the company entered into an agreement with Fiji Ports Corporation Limited, an entity wholly owned by the Government of the Republic of Fiji to manage the cargo handling activities in the Ports of Suva and Lautoka on a concession period of 15 years. Aitken Spence PLC will acquire a majority stake in Ports Terminal Ltd, a subsidiary of Fiji Ports Corporation Limited which will manage the operations.

The investment of approximately FJD 10.5 million will be subject to the approval of the Central Bank of Sri Lanka and any other relevant regulatory authorities. The alliance we are signing is undoubtedly one of the most significant to improve the operating performance of the container installations of Suva and Lautoka through a Public Private Partnership between the Fiji Ports Corporation Limited and its wholly owned subsidiary, Ports Terminal Limited and Aitken Spence of Sri Lanka,” Fijian Prime Minister Commodore Vorequ Bainimarama Bainimarama said.

“We need better turnaround times for ships visiting our ports.

We need to make Fiji more competitive, more attractive as a trans-shipment hub for other places in the Pacific.