THE Philippine Ports Authority (PPA) has awarded International Container Terminal Services Inc (ICTSI) a 25-year concession contract to develop and operate the iloilo Commercial Port Complex (ICPC) in Western Visayas.
This marks a significant step towards transforming ICPC into a modern, efficient, and premier gateway for the region, said an ICTSI statement.
ICTSI received from 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 will begin operations of the facility upon contract signing and PPA's issuance of the Notice to Proceed.
Christian R Gonzalez, ICTSI executive vice president, said: '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. 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.'
Visayas Container Terminal (VCT), the future name of the facility after handover to ICTSI - is a critical gateway for trade in the Western Visayas. However, capacity efficiency constraints have hampered its full potential. ICTSI's involvement aims to tackle these challenges head-on, unlocking the port's economic engine.
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.'
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This marks a significant step towards transforming ICPC into a modern, efficient, and premier gateway for the region, said an ICTSI statement.
ICTSI received from 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 will begin operations of the facility upon contract signing and PPA's issuance of the Notice to Proceed.
Christian R Gonzalez, ICTSI executive vice president, said: '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. 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.'
Visayas Container Terminal (VCT), the future name of the facility after handover to ICTSI - is a critical gateway for trade in the Western Visayas. However, capacity efficiency constraints have hampered its full potential. ICTSI's involvement aims to tackle these challenges head-on, unlocking the port's economic engine.
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.'
SeaNews Turkey
