International Container Terminal Services Inc. (ICTSI) said Monday it secured a 25-year concession contract to develop and operate the Iloilo Commercial Port Complex (ICPC) in Western Visayas.
The port operator led by businessman Enrique Razon Jr. received from the Philippine Ports Authority (PPA) a notice of award for its sole bid to operate the ICPC in accordance with PPA Administrative Order (AO) No. 03-2016 or the Port Terminal Management Regulatory Framework (PTMRF).
ICTSI said it would start operations of the facility upon contract signing and PPA’s issuance of the notice to proceed.
“We are elated and grateful to be entrusted with the redevelopment of the Iloilo Port. We recognize the port’s pivotal role in driving Iloilo’s economic and social growth,” said ICTSI executive vice president Christian Gonzalez.
“Our comprehensive proposal outlines significant investments in infrastructure upgrades, cargo-handling equipment and operational efficiency measures, all aimed at transforming the Iloilo Port into a premier gateway,” he said.
Located at the heart of Iloilo City, ICPC serves the province of Iloilo and the entire Panay Island.
Visayas Container Terminal (VCT), the future name of the facility after handover to ICTSI, is a critical gateway for trade in Western Visayas. Capacity efficiency constraints hampered its full potential, and ICTSI said its involvement aims to tackle these challenges head-on, unlocking the port’s economic engine.
VCT has 627 meters of operational quay length and 20 hectares of land for container and general cargo storage, warehousing and other cargo-handling activities.
ICTSIs said that upon the signing of the contract, it would focus on improving terminal productivity and service quality by investing in the development and rehabilitation of the terminal infrastructure and the deployment of cargo-handling equipment.
Former Senate President Franklin Drilon, a native of Iloilo, expressed bullishness about the PPA’s decision to grant a contract for the re-development of VCT to ICTSI.
“With its impressive track record, ICTSI is well-positioned to efficiently manage the ports and address the longstanding congestion issues plaguing our ports, which have deterred potential investors. The decision to partner with ICTSI is a significant step forward in transforming VCT into a modern, world-class port facility and accommodating more domestic and international shipments. This will position Iloilo as a key driver of economic progress in the Philippines,” Drilon said.