MANILA -- The International Container Terminal Services Inc. (ICTSI) has proposed to invest more than PHP5 billion to develop the Iloilo Port Complex and the Port of Dumangas in the province of Iloilo.
This, as ICTSI submitted a Letter of Intent to the Philippine Ports Authority (PPA) to modernize its infrastructures, as well as manage and operate the two ports - in line with the future development needs of Iloilo and the Visayas.
The company seeks to assist the PPA in upgrading the port network in the country to facilitate inter-island and international cargo movement.
“We truly believe in the growth potential of the Visayas in general and of Iloilo in particular. That growth is anchored on the building of infrastructure and the delivery of basic utilities and services. With the development of port superstructure and the cost-efficient delivery of electric services, we hope to be able to help Iloilo in attaining its full potential,” ICTSI Chairman and President Enrique Razon Jr. said in a statement on Monday.
Under its proposal, the company will invest more than PHP 5 billion to develop the Iloilo Port Complex, which includes the dredging and deepening of the port and the channel to allow the entry of new international vessels.
New port equipment, including modern quayside crane handling equipment will be deployed during the first phase, estimated to cost PHP1.35 billion.
The company is also offering to substantially invest in the development of the Port of Dumangas to handle passenger spillover from the city port.
ICTSI envisions to upgrade the two ports into international gateways.
“ICTSI believes that the ports’ development will not only improve efficiency, but will, more importantly evolve the ports into becoming the Philippines’ Visayas hub that will improve connectivity for cargo movement within the country. Our vision is to ultimately turn these ports into international gateways,” according to ICTSI global corporate head Christian Gonzales.
ICTSI will introduce automation in the operations, engineering and administration of the ports to promote efficiency and security.
It will likewise deploy its commercial team to promote the services of the Iloilo ports and employ local talents for their operations.
The company will likewise rollout engagement programs for port users to ease business transactions.
The ICTSI is involved in the business of port development, management and operations and is established and headquartered in Manila. It operates the Manila International Container Terminal (MICT) in the Port of Manila, which is one of the major seaports in Asia and one of the most active ports in the country.
It currently has operation in 18 countries, namely the Philippines, Indonesia, China, Pakistan, Australia, Papua New Guinea, Mexico, Honduras, Colombia, Ecuador, Brazil, Argentina, Poland, Croatia, Georgia, Iraq, Madagascar and the Democratic Republic of Congo. (PNA)
