Publish Date : 14-Mar-2017
International Container Terminal Services Inc. (ICTSI), the three-decade-old ports operator of the Philippines, on Monday has announced in a statement that the company has decided to boost the capacity of its flagship Manila International Container Terminal (MICT) to a significant extent with $80-million (P4.02 billion) worth of investment.
The listed ports operator has further said that it will carry out the investment for the procurement of new equipment in order to expand the capacity of MICT.
ICTSI has also revealed in its statement that the money will support MICT in the expansion of its capability via acquisition of five post-Panamax quay cranes, 20 rubber tired gantry cranes, and the construction of a new berth.
The quay cranes, capable of servicing cargo boxes of as much as 13,000 twenty-foot equivalent unit (TEU), will have an utmost of 20 containers lift rated load capability, with capacity to service the outsized single-ocean box ships, which are incapable of move across the Panama Canal.
MICT, with the expansion, will be capable of accommodating the biggest ships operating on the intra-Asian trade routes, which is serviced by the port.
There are six berths at MICT now. Out of the five new quay cranes, a pair will be installed at Berth 5, whilst the three others are planned for the Berths 3, 6 and 7. The delivery of the first three cranes is slated for the next year, while the rest two will be handed over one year later.
The capacity of MICT, with the new equipment procurements, will be augmented by 13,000 TEUs, with a total capacity of 2.75 million TEUs per annum.
ICTSI has revealed that the expansion program sits alongside the expected boost in the container traffic attributable to a growing economy of the Philippines amid the worldwide slowdown in the container shipping space.
The ICTSI SVP & Regional Head of Asia Pacific and MICT Christian R. Gonzalez commented, We have always been steps ahead of the game in terms of planning. By the way things are looking, there is a legitimate need to invest in equipment and construct an additional berth in the near future. We need to ensure expansion is ahead of the curve in terms of being prepared for an increase in vessel sizes.
The company is also involved to restore the rail link between MICT and Calambas Laguna Gateway Inland Container Terminal, which has been opened in recent times.
Moreover, ICTSI recently has tendered a plan for the construction of a roll on-roll off (RoRo) barge terminal in Cavite, south of Metro Manila.
The company, incorporated in the year 1987, operates, manages and develops the MICT under a 50-year concession implemented in 1988, and is engaged in the management of international container cargo at the Port of Manila. At present, ICTSIs terminal operations and project activities cover the regions of Asia Pacific, the Americas, Europe, the Middle East, and Africa.
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