TYC0ON Enrique Razon Jr's International Container Terminal Services Inc's (ICTSI) plans to invest PHP8
TYC0ON Enrique Razon Jr's International Container Terminal Services Inc's (ICTSI) plans to invest PHP8.7 billion (US$166.3 million) to develop the Port of Iloilo drew support from Ilonggo Senator Franklin Drilon, who is widely credited for Iloilo's development. At a briefing attended by Ilonggo political leaders and business groups, represented by the Iloilo Economic Development Foundation (ILED), Christian Gonzalez, ICTSI's global corporate head, revealed that the Razon-led ICTSI intends to invest the sum to upgrade the Iloilo Port once the Philippine Ports Authority (PPA) acts on its unsolicited proposal, which is up for review by the PPA Board.
Present at the briefing in Makati City were Mr Drilon, Mayor-elect Jerry Trenas, Congresswoman-elect Julienne Jam Jam Baronda, and Ilonggos business community represented by Narzalina Lim, Jocelyn Perez, Terence Uygongco, Rex Drilon and Francis Gentoral of ILED.
'The expansion of Iloilo port sits well with our plans for the province. We are seeing a heightened shipping activity in the province due to the economic developments that have taken place in the province for the past years,' Mr Drilon said.
WORLD SHIPPING
