THE Philippine Ports Authority has deemed “complete” a proposal of International Container Terminal Services to develop Iloilo ports in the central Philippines.
ICTSI, operator of VICT in Melbourne, received from PPA a letter of acceptance for completeness in accordance with the Revised Guidelines and Procedures for Entering into Joint Venture Agreements between Government and Private Entities.
PPA is to now evaluate the legal, financial and technical merits of the ICTSI proposal to modernise the Iloilo Commercial Port Complex and the Port of Dumangas within 60 days.
ICTSI global corporate head Christian R. Gonzalez said they were excited about the development.
“We are fully committed to working with the PPA on this project, and are hopeful to be granted original proponent status,” Mr Gonzalez said.
“With the Transportation Department’s recent directive to fast track unsolicited bids for port projects, we are confident that we will be able to assist the Philippine government more in its goals of upgrading the country’s port network.”
After receiving the OPS, the ICTSI proposal is to be turned over to the National Economic and Development Authority for evaluation.
Over the life of the concession that is to be agreed on with the PPA, ICTSI has estimated an investment of over PhP8.7bn to develop the Iloilo Port Complex.
ICTSI is offering to substantially invest in the development of the Port of Dumangas in order to seamlessly handle the spill over from the city port.
The Iloilo-Dumangas bid is ICTSI’s first foray in the Visayas with the goal of providing a national network of ports to improve the country’s supply chain and competitiveness in global trade.