Philippines port proposal underway
A port development proposal has been accepted as complete by the Philippine Ports Authority (PPA), which will now begin to evaluate its legal, financial and technical merits.
International Container Terminal Services, Inc’s (ICTSI) proposal to modernise the Iloilo Commercial Port Complex and the Port of Dumangas will be considered by PPA within a maximum of 60 days.
Speaking about Iloilo portion of the proposal, Christian R. Gonzalez, ICTSI global corporate head, said: “We are excited about this development as we know we submitted a fully compliant proposal that will be the most beneficial for Iloilo. We are fully committed to working with the PPA on this project, and are hopeful to be granted original proponent status (OPS).”
He added: “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; and help Iloilo attain its full potential in facilitating even greater trade facilitation that will improve connectivity for cargo movement within the country.”
More scrutiny ahead
Once it receives the OPS, ICTSI’s proposal will be turned over to the National Economic and Development Authority (NEDA) for evaluation. If it gains the approval of NEDA, the proposal will go through a Swiss challenge.
Over the life of the concession that will be agreed on with the PPA, ICTSI has estimated an investment of over PhP8.7 billion to fully develop the Iloilo Port Complex – including dredging and deepening of the drafts and channel to allow the direct entry of new generation, international vessels; and purchase of modern quayside crane handling equipment estimated to cost around Php1.35bn.
ICTSI is also 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 end goal of providing a national network of ports.
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