PHILIPPINES: PRES AQUINO INAUGURATES $200M PORT FACILITY IN MANILA
Last Updated: 2012-06-28
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MANILA, June 28 (NNN-PNA) -- President Benigno S. Aquino III inaugurated the newly constructed port facility of the International Container Terminal Services, Incorporated (ICTSI) located at the Manila International Container Terminal (MICT) in Manila on Thursday.

The President led officials, employees and guests of ICTSI led by its president Enrique Razon, Jr., in pouring champagne on the facility’s marker formally opening the ICTSI’s Berth 6’s operations to the public.

Constructed at a cost of $ 200 million, Berth 6 adds 300 meters of additional port area and 12 hectares of container storage space to the existing facility thereby expanding operations and services at MICT from 1.9-million twenty-foot equivalent units (TEUs), a measure used for capacity in container transportation, to 2.5-million TEUs.

With Berth 6, MICT now has 1,600 meters of berth which can accommodate five to seven container vessels at one time.

To help move around more containers efficiently, MICT’s container handling equipment has also been upgraded to include 12 quay cranes and 45 rubber tired gantries.

Joining the President for the inaugural ceremonies were Manila Mayor Alfredo Lim, Transportation Secretary Manuel Roxas II and Philippine Ports Authority General Manager Juan Sta. Ana.

ICTSI is a leading port management company involved in the operations and development of 23 marine terminals and port projects in 17 countries worldwide.

Enrique Razon has expressed to President Aquino his company’s bullishness on the Philippines due largely to the good economic performance of the country, brought about by the clear cut governmental reforms despite the global downtrend affecting bigger economies.

He also told President Aquino that ICTSI remains upbeat on the Philippines despite the company’s large-scale and full blown expansion activities overseas.

“Amid the global financial crisis, the Philippines continued to grow in a period of economic contraction across the globe,” Razon, Jr. said in his message welcoming the President and his delegation.

He added that the 6.4-percent growth rate the Philippines achieved in the first quarter of 2012 surpassed that of most Asian countries.

He said that ICTSI welcomed this positive development as it concretely defined that the country was attracting more foreign investments, and international trade was improving as evidenced by the increased volume of container traffic in the Manila International Container Terminal (MICT).

“Despite our expansion overseas, we remain bullish on the Philippines and it will always be our priority,” Razon, Jr. said. -- NNN-PNA