International Container Terminal Services Inc. (ICTSI) and Société de Gestion du Port Autonome de Toamasina (SPAT) signed a 15-year extension of the concession for the Madagascar International Container Terminal or from 2025 to 2040.

ICTSI has held the concession since 2005 through its wholly-owned subsidiary Madagascar International Container Terminal Services Limited (MICTSL). Valery Ramonjavelo, chairman of SPAT and Hans-Ole Madsen, ICTSI senior vice president, signed the 15-year extension agreement at the port city of Toamasina that was witnessed by the Minister of Transport and Meteorology, Minister of Justice and the Minister of Foreign Affairs.