Port operator International Container Terminal Services Inc. said Thursday it is hopeful about expanding its port contact in Brunei Darussalam.
The port operator, owned by businessman Enrique Razon, which operates the sultanate’s leading trading gateway, the Muara Container Terminal, said it was looking forward to improved investment opportunities between the two countries with the recent visit of President Duterte in Brunei.
“We are hopeful that this state visit will open up more opportunities for the two countries to further develop the Brunei-Indonesia-Malaysia-Philippines East Asean Growth Area,” ICTSI senior vice president and head of Asia-Pacific Christian Gonzalez said.
“ICTSI is fully committed to be an active partner in both countries’ drive to promote economic growth, especially through sound investments in port management and development,” Gonzalez said.
ICTSI proposed to have a long-term concession with the Brunei government to further develop the Port of Muara into a world-class gateway.
ICTSI’s unit in Brunei, New Muara Container Terminal Services SDM BHD in May received a notice from the director of Ports, Ports Department, Ministry of Communication extending the services agreement for the operation and maintenance of the Muara Container Terminal for one year, or from May 21 until May 20, 2017.
The NMCTS’ facilities include a 250-meter quay and occupy a total land area of five hectares, and have a capacity of 250,000 twenty-foot equivalent units.
“Given our global expertise and sound business practices backed by international financial institutions, we can develop world-class port facilities in Brunei. With President Duterte discussing trade relations, we’re really hoping for things to go well so both countries can capitalize on these opportunities,” NMCTS general manager Reimond Silvestre said.
“For us, we’re hoping we could expand our contract in Muara so we can pour more investments, create a world-class trade gateway and provide better service to the people of Brunei,” he said.