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Indiaexportnews.com

ICTSI to spend US$330 million to expand Manila terminal capacity

  10.10.2014    

Manila's global terminal operator International Container Terminal Services Inc (ICTSI) plans to spend US$330 million over 10 years to expand capacity in its highly congested home port, Reuters reports.
The first $100 million is to be spent for Berth 7 and the remaining $200 million will pay for equipment and machinery at for Manila International Container TerminaL (MICT), said ICTSI Asia chief Christian Gonzalez.
ICTSI will start with a $30 million expenditure for the construction of the remaining 15 hectares of a 21-hectare inland container depot (ICD) in Laguna 40 kilometres from Manila.
ICTSI used to operate the ICD in the 1990s, which it will revive to handle another 250,000 TEU a year, targeting area companies such as Nestle and Robina.
The ICD is to be linked to a rail system with the Department of Transportation and Communications suposedly investing in the tracks, Mr Gonzalez said on the sidelines of the MICT on-site inspection of the Task Force on Port Congestion.
But only the $35 million for nine hectares of yard expansion has been approved by government, reported Manila-based Malaya Business Insight.
"There are some factions in the government that don't want us to build the berth because they think that cargo should not shift to Batangas or Subic," he said.
With the ICD Calamba and the yard expansion, ICTSI capacity would rise 20 per cent, he said, adding that it was needed as volumes increase and the economy grows.
"We are lagging behind on roads," he said."I've been pushing for it because it's always better to have more capacity than less. We almost reached two million TEU last year.'



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