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 $94 million.
In line with the future development needs of Iloilo and the Visayas, ICTSI submitted a Letter of Intent to modernize the ports’ infrastructure and superstructure, and to eventually manage and operate the two Iloilo ports.
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 vessels.
Christian R. Gonzalez, ICTSI global corporate head, commented: “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.”
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, reported the company.
The company also added that it is offering to substantially invest in the development of the Port of Dumangas in order to seamlessly handle the spill over from the city port.