ICTSI mulls turning Hanjin’s Subic property into multipurpose facility

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SOUTH PACIFIC International Container Terminal Ltd. (SPICT) received its order of three hybrid rubber tyred gantries (RTG) for the Port of Lae in Papua New Guinea. — INTERNATIONAL CONTAINER TERMINAL SERVICES, INC.

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) is looking at the possible acquisition of Hanjin Heavy Industries and Construction Philippines’ (HHIC-Philippines) assets to turn it into a multipurpose facility.

“Still working, trying to put the team together because we are not just looking at that as a port. We are looking at that as a multipurpose facility — power, steel, ship repair, multipurpose, automotive, crane,” ICTSI Global Corporate Head Christian R. Gonzalez told reporters in Manila on Friday.

However, Mr. Gonzalez noted the port giant is not interested in the shipbuilding business.

“Our intention is not shipbuilding at all. It’s to utilize the site for other critical type of support infrastructure like automotive terminal, steel, power,” he said.

Last month, ICTSI Chairman Enrique K. Razon, Jr. expressed interest in the bankrupt shipbuilder, which has facilities in the Subic Bay Freeport Zone.

“It is a good site from a maritime point of view. The problem is its very bad side from a road infrastructure point of view. The potential is good as a domestic transhipment…definitely not containers. Now that potential grows when we see better infrastructure connecting Hanjin to SCTEX (Subic-Clark-Tarlac Expressway),” Mr. Gonzalez said.

Meanwhile, ICTSI on Monday said it gained the approval of the Philippine Competition Commission (PCC) in its acquisition of new shares in the Manila North Harbor Port, Inc. (MNHPI), which raises its stake in the company to 50%.

Last September, ICTSI announced it signed a share purchase agreement with Harbour Centre Port Terminal, Inc. (HCPTI) to buy 4.55 million shares in MNHPI at P200 each, or a total of P910 million for 15.17% of the firm.

MNHPI is the private concessionaire in charge of the operations, management and maintenance of the North Harbor for 25 years starting November 2009.

Also, the subsidiary of ICTSI in Papua New Guinea said it recently received its order of three hybrid rubber tyred gantries (RTG) for the Port of Lae, which are scheduled for deployment this month.

The RTGs acquired by South Pacific International Container Terminal Ltd. (SPICT) are part of the more than PGK15.6 million (approximately P243.6 million) investment of the company in the terminal.

“We are very proud of this order. It is the result of our commitment to innovation and proven performance around the world, and it will further strengthen our presence in Papua New Guinea,” ICTSI South Pacific Chief Executive Officer Anil Singh said in the statement. — Reicelene Joy N. Ignacio and Denise A. Valdez