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ICTSI gets 25-year contract to develop Iloilo commercial port
ICTSI gets 25-year contract to develop Iloilo commercial port
ABS-CBN News
Published Apr 15, 2024 05:35 PM PHT
New reach stackers are set to arrive at the Visayas Container Terminal (VCT) in Iloilo City, Philippines as part of its ongoing modernization program. Photo from the ICTSI website.
MANILA -- The Philippine government has awarded a 25-year contract to develop and operate a commercial port in Iloilo to the International Container Terminal Services Inc (ICTSI).
The Iloilo port complex has 20 hectares of land for container and general cargo storage.
The Enrique Razon-led firm said it will improve terminal productivity and service quality by developing its infrastructure and investing in cargo-handling equipment.
The ports giant will assume operations of the facility on April 15 after securing the notice to proceed from the Philippine Ports Authority.
ICTSI executive vice president Christian Gonzales said the port will boost Iloilo's economic growth.
"We're thrilled to begin operations and transform the Iloilo Port into a world-class gateway for the central Philippines," he said in a statement posted on the company's website.
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