The Board of Investments (BOI) granted International Container Terminal Services Inc. (ICTSI) a certificate of registration for the modernization, management and operation of the P2.35-billion Visayan Container Terminal (VCT).
The project will transform the old Iloilo Commercial Port Complex (ICPC) into a state-of-the-art facility and contribute to regional economic growth and competitiveness.
Trade Undersecretary and BOI managing head Ceferino Rodolfo emphasized the project’s alignment with the government’s vision to modernize port operations and logistics services.
“This initiative is vital to our national development, facilitating the movement of goods and people across our islands and strengthening our position in international trade,” he said.
The initiative is part of a 25-year Port Terminal Management Contract between the Philippine Ports Authority (PPA) and ICTSI.
Modernization efforts include investments in advanced cargo handling equipment, cutting-edge information technology systems, and enhanced civil infrastructure, setting a new standard for service quality in the region.
Upgrades have expanded existing berths to accommodate large foreign vessels and increased cargo capacity as part of the 25-year modernization program.
An important aspect is the deployment of mobile harbor cranes (MHCs) with a 46-meter reach and a 100-ton lifting capacity, suitable for containerized, bulk, general, and project cargo.
The modernized port is expected to generate over 3,000 jobs, directly and indirectly benefiting the region.
Improved operational efficiency, expanded cargo handling capabilities and enhanced connectivity promise to attract new investments across Panay and neighboring areas.
The project supports the PPA’s port modernization program, which aims to elevate port facilities and services to international standards.
ICTSI, a leading global port operator, will oversee services, including infrastructure investment, port maintenance, container terminal management, and passenger terminal operations.
The government views this project as critical in positioning the Philippines as Southeast Asia’s premier hub for sustainable manufacturing and services.