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) which it will later name as Visayas Container Terminal (VCT).
The Manila-headquartered global port management company said this marks a significant step towards transforming ICPC into a modern, efficient, and premier gateway for the region.
"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 said in a statement.
It noted that ICTSI will begin operations of the facility upon contract signing and PPA's issuance of the Notice to Proceed.
"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," said Christian R. Gonzalez, executive vice president of ICTSI.
"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," he added.
Located at the heart of Iloilo City, ICPC serves the province of Iloilo and the entire Panay Island in the Western Visayas of the Philippines.
ICTSI pointed out that ICPC is one of the Philippines' safest and most natural harbours, with Guimaras Island shielding the port from storms and making it ideal for harbouring ships and vessels.
"Visayas Container Terminal, the future name of the facility after handover to ICTSI — is a critical gateway for trade in the Western Visayas," the port operator said, noting that capacity efficiency constraints have hampered its full potential.
VCT has 627 meters of operational quay length and 20 hectares of land for container and general cargo storage, warehousing, and other cargo-handling activities.
Upon signing of the contract, ICTSI said it will focus on improving terminal productivity and service quality by investing in the development and rehabilitation of the terminal infrastructure and the deployment of cargo-handling equipment.