ICTSI’s P8.7-B offer for Port of Iloilo under review
The Philippine Ports Authority (PPA) is reviewing billionaire Enrique Razon Jr.’s P8.7-billion offer to develop and operate the Port of Iloilo.
PPA general manager Jay Santiago told reporters they were checking the unsolicited proposal made by Razon’s International Container Terminal Services Inc. for compliance with their requirements.
Santiago said the PPC could not yet issue a certificate of completeness because there were still clarifications needed on the documents.
Once deemed complete, the PPA can award ICTSI with an original proponent status. The offer will then be evaluated by the National Economic and Development Authority, whose board will issue the final approval for a Swiss Challenge.
Christian Gonzalez, ICTSI global corporate head, previously said the company’s proposal would turn the Iloilo Port into a world-class facility.
The plan includes installing ship-to-shore gantry cranes and the continuous upgrading of the yard capacity based on demand.
Gonzales said ICTSI was also planning to build a cruise ship terminal that would cater to domestic and international tourists.
Moreover, the project will spur trade given that Iloilo is being positioned as a major exporter of agricultural goods.
Apart from the Port of Iloilo, Santiago said the PPA was also reviewing another proposal for the Port of General Santos. He did not provide details, saying only that the offer was made by Kudos Trucking Corp., a terminal operator in Davao owned by businessman Johnny Ng.
“We’re concluding pre-negotiation meetings for [General Santos] and in either late September or October, we will start negotiations here,” Santiago said.
Last month, the PPA awarded an original proponent status to businessman Dennis A. Uy’s Chelsea Logistics and Infrastructure Holdings Corp. for the latter’s P24-billion unsolicited offer to modernize and operate the Davao Sasa Port project in Mindanao.
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