ICTSI SLATED TO START CONSTRUCTION OF THE P4-BILLION TAGUM (DAVAO) INTERNATIONAL PORT

“DAVAO CITY — International Container Terminal Services, Inc. (ICTSI) is set to build a P4-billion port in Madaum, Tagum City starting next year.

“[The project] will start next year, but I am not sure if it will be built under the public-private partnership system,” Tagum City Mayor Ronnel L. Rellon said in a recent interview here.

The proposed location is the 10.3-hectare private commercial port in Barangay Madaum owned by Hijo International Port Services, Inc. Mr. Rellon said the Hijo port development plan shows the need for one-kilometer-wide warehouses, which in turn require a reclamation project that will also start next year.

The existing two-lane Madaum-San Isidro highway is also set to be expanded to a four-lane highway to meet the port’s demands.

Mr. Rellon said ICTSI President Enrique K. Razon, Jr. is keen on developing the Hijo-owned facility into one of the largest port facilities in the Philippines, with a 50-hectare coastal area, a 12-meter draft berth and annual capacity of two million 20-foot equivalent unit containers.

ICTSI and Hijo Resources Corp. signed a joint venture contract for the project in November last year. ICTSI officials, including Mr. Razon, were unavailable for comment. But, Mr. Rellon said he met informally with Mr. Razon a few months ago, when the tycoon confirmed his plans of developing the area, which has been designated a special economic zone. — Carmencita A. Carillo”

Source: http://www.bworldonline.com/content.php?section=Corporate&title=ICTSI-slated-to-start-construction-on-P4-B-Tagum-port&id=78035

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~ by davaohive101 on October 16, 2013.

One Response to “ICTSI SLATED TO START CONSTRUCTION OF THE P4-BILLION TAGUM (DAVAO) INTERNATIONAL PORT”

  1. This will be one of the biggest international ports once it is finished.

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