International Container Terminal Services Inc. (ICTSI) said Thursday said it acquired a 27-hectare property in Barangay San Roque and San Andres I in Bauan, Batangas province for a new international container terminal.
“The property is adjacent to ICTSI’s Bauan, Batangas property and will be utilized for its expansion plans of its new 900-meter berth terminal,” ICTSI said.
The company said the property is part of its $800-million investment in providing world-class port facility, and critical to ICTSI’s role in catalyzing regional development to Southern Luzon as a key player in global trade.
“This project will ultimately boost the economic benefits to the country through provision of efficient port services,” ICTSI said.
ICTSI said the new terminal would be the largest privately-funded marine terminal investment in history and would ultimately be the second-largest container facility after the Manila International Container Terminal (MICT) in the Port of Manila.
The company said with design and engineering studies well underway, it would begin construction in the first quarter of 2025.
The terminal, whose first berth is scheduled for completion by end-2027, is seen to become a catalyst for economic growth across Southern Luzon, creating jobs and accelerating regional development.
It is also expected to play a role in providing the marine handling needs required by the country’s renewable energy transition strategy for Southern Luzon.
Upon completion, the terminal will feature up to 900 meters of quay and at least 8 ship-to-shore gantry cranes and an estimated capacity of over 2 million TEUs (twenty-foot equivalent units) per annum.
Be the first to comment