PON reaffirms commitment to Coega

RAY SMUTS
P&O NEDLLOYD remains firmly committed to the Coega project despite the recent collapse of container terminal negotiations with the National Ports Authority.
This resolve is underscored by MD Barry New in response to whether the carrier will be making a fresh bid for the terminal operation. “It’s absolutely full speed ahead, no doubt about that,” he told FTW.
P&O Nedlloyd, along with TCI Infrastructure (the CODECO consortium), was identified as the Ôpreferred’ candidate for the 500000TEU container terminal operation in October 2000, at a time when most other major container liner executives were questioning the practicality of the overall development. Today P&O Nedlloyd still believes the geographical location, unhindered access, and rail and road connections makes Coega an excellent prospect.
Since the breakdown of talks between the parties, the department of public enterprises has confirmed the container terminal will go back to public tender as soon as government has finalised its national ports strategy.
DPE added that fundamental issues surrounding the terms between the CODECO consortium remained unresolved, thereby making it impossible for negotiations to continue.
These fall beyond the jurisdiction of both the NPA and the Coega Development Corporation hence policy intervention and the need for possible government subsidies to resolve. (FTW August 6, 2004)