INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said it submitted to the government an unsolicited proposal to develop the Iloilo Port Complex and the Port of Dumangas in Iloilo.
In a statement on Monday, the listed port operator said it sent a letter of intent to the Philippine Ports Authority (PPA) to modernize, operate and maintain the two ports in the Visayas.
“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,” it said.
The Razon-led company is investing more than P5 billion for the project, which will cover the dredging and deepening of the Iloilo Port Complex. It said the first phase, which includes the addition of new port equipment such as a modern quayside handling tool, is expected to reach P1.35 billion.
“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 global corporate head Christian R. Gonzalez said in the statement.
The company noted it is including the Port of Dumangas in its proposal to prepare it for the spill over of ships to be handled in the city port.
“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,” ICTSI Chairman Enrique K. Razon, Jr. was quoted as saying in a statement.
Earlier, a subsidiary of Mr. Razon’s other business Monte Oro Resources and Energy, Inc. (MORE) also sought congressional franchise to operate as a power distribution company in Iloilo City. — Denise A. Valdez