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ICTSI offers to develop Iloilo ports

International Container Terminal Services, Inc. (ICTSI) has submitted a proposal to the Philippine Ports Authority (PPA) to develop two ports in Iloilo – the Iloilo Port Complex and the Port of Dumangas, an investment estimated to cost over PhP5B (US$94M)

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Iloilo and the Visayas, ICTSI has submitted a Letter of Intent to the Philippine Ports Authority to modernise the infrastructure and superstructure of Iloilo and the Visayas, and subsequently to manage and operate them.

 

The company says it hopes to be able to assist the PPA in its goal to upgrade the Philippine port network in the hope of facilitating inter-island and international cargo movement.

 

Enrique K Razon Jr, ICTSI chairman and president, said: “We 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.”

 

Christian R Gonzalez, ICTSI global corporate head, added: “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 two ports into international gateways.”

 

ICTSI says it intends to bring to the Iloilo ports its know-how in managing ports honed from its 30 years of experience operating ports worldwide.

 

Over the life of the concession that will be agreed on with the PPA, ICTSI has estimated an investment of over PhP5B to fully develop the Iloilo Port Complex.

 

An integral part of this investment will include the dredging and deepening of the port itself and the channel to allow the direct entry of new generation, international vessels.

 

New port equipment to be brought in during the first phase alone has been estimated to cost PhP1.35B (US$25M), and will include modern quayside crane handling equipment.

 

ICTSI is also offering to invest in the development of the Port of Dumangas in order to handle the spill over from the city port.

 

Enrique K. Razon Jr., ICTSI chairman and president, says: “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.”

 

Christian R. Gonzalez, ICTSI global corporate head, adds: “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 two ports into international gateways.”

 

ICTSI hopes to arrive at an agreement with the PPA that will be compliant with PPA rules and regulations and applicable laws. ICTSI also intends to bring to the Iloilo ports its know-how in managing ports honed from its 30 years of experience across the 30 ports that it operates worldwide.

 

Over the life of the concession that will be agreed on with the PPA, ICTSI has estimated an investment of over PhP5 billion to fully develop the Iloilo Port Complex.

 

An integral part of this investment will include the dredging and deepening of the port itself and the channel to allow the direct entry of new generation, international vessels.

 

New port equipment to be brought in during the first phase alone has been estimated to cost PhP1.35B (US$25M), and will include modern quayside crane handling equipment.

 

ICTSI is also offering to substantially invest in the development of the Port of Dumangas in order to seamlessly handle the spill over from the city port.

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