MANILA's International Container Terminal Services Inc (ICTSI) has been given the green light by the Philippines Board of Investments (BOI) to spend PHP5 billion
ICTSI gets nod for US$107 million Manila port expansionMANILA's International Container Terminal Services Inc (ICTSI) has been given the green light by the Philippines Board of Investments (BOI) to spend PHP5 billion (US$107 million) to add yard capacity at its main Manila International Container Terminal (MICT) in anticipation of faster container volume growth.
BOI said that ICTSI's project involves the construction of Berth 7 in North Harbour and the project can accommodate the anticipated container volume growth by handling up to 2.5 million TEU upon completion, the Manila Bulletin reported.
The project also includes the construction of a 300-metre wharf structure including back-up areas and associated roadway improvements.
Phase 1 of its Berth 7 yard development has been completed with the four hectares of new yard space, which is intended to be an empty container depot (ECD) to store up to 4,300 containers in moderate wind conditions. Adjacent to it is another two hectares, which will be completed by the year of the year and the entire area of Phase 1 on completion will store 6,500 TEU.
The full development, estimated to be completed in 20 months, will add approximately 500,000 TEU of yard capacity to the MICT.
Complementary to the new yard is the development of an inland container depot (ICD) in Laguna, about 21 hectares, for which $30 million has been earmarked.
In addition, six new rubber tired gantries have been ordered and which may be deployed at either the MICT or ICTSI's Subic operations as the demand dictates.
