ICTSI plans P8.7 B upgrade of Iloilo Port

MANILA, Philippines —  International Container Terminal Services Inc. (ICTSI) of billionaire Enrique Razon Jr. plans to invest P8.7 billion to upgrade the Iloilo Port under an unsolicited offer currently up for review by the Philippine Ports Authority (PPA) board.

ICTSI global corporate head Christian Gonzalez said the objective of the company in its unsolicited proposal is to bring the Iloilo Port to world class levels by “maximizing big ship capability, installing ship-to-shore gantry cranes, and continuously upgrading yard capacity aligned to traffic studies.”

Gonzalez said the ports operator giant also plans to build a terminal for cruise ship passengers to meet the objectives of the country’s National Tourism Development Plan. 

With ICTSI’s development plans, he said Iloilo can be the major regional transhipment hub for the Visayas. 

According to ICTSI, the unsolicited proposal which covers four development phases drew support from Ilonggo Sen. Franklin Drilon, who has urged the PPA to act on the group’s unsolicited offer.

Drilon said ICTSI’s plan is very timely given that Iloilo is poised to become a major exporter of agricultural products once the Jalaur River Multi-purpose Project is completed in 2022.

“The expansion of Iloilo port sits well with our plans for the province. This early we are seeing a heightened shipping activity in the province due to the economic developments that have taken place in the province for the past years,” Drilon said.

“We have to develop our port and equip it with modern facilities so it can continue to accommodate the growing demands for port services,” he added.

With its three decades of experience across the ports it operates worldwide, ICTSI intends to bring to the Iloilo port its know-how in managing ports.

ICTSI is a publicly listed company in the Philippines which has port operations all over the world. It has at least 16 ports in the Asia and the Pacific including ports in the Philippines, two in Africa, seven in the Americas, and four in Europe and the Middle East.    — With Paolo Romeroa