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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.

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