ICTSI may join Batangas port bid
International Container Terminal Services Inc. may bid for the 25-year international cargo-handling contract at the Port of Batangas, the company announced following its stockholders’ meeting Thursday.
Enrique K. Razon, ICTSI chairman and president, told reporters that the company has the documents and is “studying [to join the bidding].”
The Philippine Ports Authority is currently in the process of getting investors’ intent to bid for the P5.5-billion Batangas Port Phase 2.
It occupies an area of 128 hectares compared with the first phase designed for domestic traffic and operated by Asian Terminals Inc.
Phase 2 is a mix operation of bulk, break bulk and international containerized cargo, but without a passenger terminal. It is designed to accommodate 7,000 TEU’s, or 20-foot equivalent units.
A TEU is a measure of containerized cargo equal to a standard size of 20-foot length of 8 ft. width and 8.5 ft. in height.
Batangas port is the transport hub of goods in the Cavite, Laguna, Batangas, Rizal and Quezon provinces. It also functions as a terminal for passengers traveling to and from the nearby provinces of Mindoro, Marin-duque, Romblon and Palawan.
Apart from the Batangas port, ICTSI also plans to acquire more ports outside the country, particularly in India, the Middle East, Latin America, Eastern Europe and Africa.
Razon said that the company’s investment for its new port venture in China was $53 million this year. The company also won the 20-year concession to operate a container terminal in Ecuador.
ICTSI’s international operations continue to be a significant contributor to its earnings, which accounted for 60 percent of it’s consolidated net income last year from 34-percent share in 2005.
Last year ICTSI posted a net profit of P1.8 billion from P1.34 billion in 2005.
Razon added that the ICTSI board has approved 30-cent cash dividend, 20 percent higher than the dividends last year.
The company will pay the dividend on May 14.
ICTSI operates at the Manila International Container Terminal in South Harbor, Japan, Indonesia, Poland, Brazil, Syria and Madagascar.
Enrique K. Razon, ICTSI chairman and president, told reporters that the company has the documents and is “studying [to join the bidding].”
The Philippine Ports Authority is currently in the process of getting investors’ intent to bid for the P5.5-billion Batangas Port Phase 2.
It occupies an area of 128 hectares compared with the first phase designed for domestic traffic and operated by Asian Terminals Inc.
Phase 2 is a mix operation of bulk, break bulk and international containerized cargo, but without a passenger terminal. It is designed to accommodate 7,000 TEU’s, or 20-foot equivalent units.
A TEU is a measure of containerized cargo equal to a standard size of 20-foot length of 8 ft. width and 8.5 ft. in height.
Batangas port is the transport hub of goods in the Cavite, Laguna, Batangas, Rizal and Quezon provinces. It also functions as a terminal for passengers traveling to and from the nearby provinces of Mindoro, Marin-duque, Romblon and Palawan.
Apart from the Batangas port, ICTSI also plans to acquire more ports outside the country, particularly in India, the Middle East, Latin America, Eastern Europe and Africa.
Razon said that the company’s investment for its new port venture in China was $53 million this year. The company also won the 20-year concession to operate a container terminal in Ecuador.
ICTSI’s international operations continue to be a significant contributor to its earnings, which accounted for 60 percent of it’s consolidated net income last year from 34-percent share in 2005.
Last year ICTSI posted a net profit of P1.8 billion from P1.34 billion in 2005.
Razon added that the ICTSI board has approved 30-cent cash dividend, 20 percent higher than the dividends last year.
The company will pay the dividend on May 14.
ICTSI operates at the Manila International Container Terminal in South Harbor, Japan, Indonesia, Poland, Brazil, Syria and Madagascar.