Port operator International Container Terminal Services Inc. (ICTSI) said Monday it received a notice to proceed from the Philippine Ports Authority (PPA) to develop and operate a port in Western Visayas.
ICTSI said in a disclosure to the stock exchange PPA awarded the company with a 25-year contract to develop and operate the Iloilo Commercial Port Complex (ICPC).
ICTSI said it would 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 upon signing of the contract.
ICPC has 627 meters of operational quay length and 20 hectares of land for container and general cargo storage, warehousing and other cargo-handling activities.
The port operator said in January it secured a 25-year concession contract for its sole bid to develop and operate ICPC in accordance with PPA Administrative Order (AO) No. 03-2016 or the Port Terminal Management Regulatory Framework (PTMRF).
Located at the heart of Iloilo City, ICPC serves the province of Iloilo and the entire Panay Island. Visayas Container Terminal (VCT), the future name of the facility after the handover to ICTSI, is a critical gateway for trade in Western Visayas.
Capacity efficiency constraints hampered its full potential, and ICTSI said its involvement aims to tackle these challenges head-on, unlocking the port’s economic engine.