SUBSIDIARY NAME
CATO RIDGE PORT
COUNTRY
SOUTH AFRICA
SECTOR/ INDUSTRY
CONSTRUCTION/ DEVELOPMENT
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
May 18, 2022
ACQUISITION VALUATION
–
TOTAL ASSET VALUATION
–
REAL ESTATE
CATO RIDGE PORT: IIB-DG acquired CATO RIDGE PORT on Mar 05, 2022, the Cato Ridge Development Project is aimed at improving the Ports efficiency and create additional capacity through decongestion of the Port Precinct and Durban CBD in an attempt to keep up with economic growth.
The Cato Ridge Dry Port will improve Durban Port efficiency as it is one of the main determinants of international transport costs and this will reduce the overall cost of logistics.