Tycoon Enrique Razon Jr.’s International Container Terminal Services (ICTSI) is making its largest bet in the Philippines as it unveiled plans to build a new $800 million (P46 billion) international container terminal in Bauan, Batangas, a highly developed province south of Metro Manila.
The bidding for a new international container port in Cebu, backed by the South Korean government, will soon be relaunched by the Department of Transportation with a larger project cost.
International Container Terminal Services Inc. (ICTSI) received the go-signal for its P10 billion take over operations of the Iloilo Commercial Port Complex.