A new 50-year agreement has been signed between the Government and all powerful Chief Mantoi Kalsakau III of Ifira Island.
The deal gives the chief and his people's group of companies the right to operate the newly completed Lapetasi International Container Terminal located on Ifira Island in the middle of Port Vila's harbour
The chief has assured the government he is confident the companies have the material and expertise to successfully operate the terminal and the company board has already reduced container charges.
The Prime Minister Charlot Salwai congratulated the chief and his people for their generosity.
He told the Vanuatu Daily Post their actions were a classic example for other communities and islands to develop.