Private company wants to build R300-m passenger terminal

An outside investment company has proposed a R300 million three or four-tower passenger terminal for Durban's T-Jetty.
The company, Ipstock, which is half-owned by black empowerment company Investments Progress Group (IPG), has presented proposals to Portnet. These call for several multi-storied towers at the end of the T-Jetty in the place of N-Shed. The proposed building is designed in the shape of a set of ship's sails and is intended to rival Sydney's Opera House as a waterfront landmark.
A spokesman for IPG says that tenants for the building are likely to come from shipping companies, ships agents, forwarders, travel companies, restaurants and entertainment providers. Judging on initial enquiries alone it will be oversubscribed. He revealed that IPG was ready to begin construction immediately, with a construction time span of 18 months.
The chairman of IPG Dr Aubrey Mokoape confirmed they were waiting for the nod from Portnet, who in turn has said that although they (Portnet) welcome the proposal no agreement has yet been reached.
Portnet announced late last year that they would spend more than R3m rand developing N-Shed as a passenger terminal, with work due to start during January.
However, communication problems between Portnet and Transnet have apparently resulted in inexplicable delays, with the project and work still to commence.
By Terry Hutson