ICTSI submits bid for management of Iloilo commercial port
RAZON-LED International Container Terminal Services, Inc. (ICTSI) said it had submitted a bid to maintain and manage the Iloilo Commercial Port Complex (ICPC).
“Yes, we submitted,” said the company’s media relations head in a phone message to BusinessWorld on Thursday.
The 25-year concession agreement, as per the Philippine Ports Authority’s (PPA) bid invitation, sets a minimum fixed fee of P500 million for the sixth to 10th year and a minimum annual concession fee of P100 million for the sixth year.
PPA has scheduled the deadline for bid submission and bid opening on Jan. 11.
BusinessWorld has asked PPA for comments, but the number of bidders remains undisclosed.
“Bids evaluation for ICPC is still undergoing. [PPA] will issue a statement after bid evaluation is completed,” a PPA representative said in a Viber message.
The winning bidder must have at least two years of experience in providing port terminal management services, cargo handling services, and other related port services, as stated by PPA.
Additionally, the bidder must possess experience in operating a terminal similar to or larger than ICPC and should have a minimum of 10 years of relevant experience in handling foreign containerized and non-containerized cargo.
The winning bidder must also have an experience in similar rehabilitation and construction works, PPA said.
Last year, the Transportation department said the PPA had received several proposals for the Iloilo port but it noted that only one party is serious about the project.
In 2022, the listed port operator ICTSI announced plans to revive its proposal to develop and operate the ICPC. The Razon-led port operator had earlier estimated the required investment to be more than P5 billion.
Separately, ICTSI has set a 2050 net-zero goal by cutting emissions and improving energy efficiency.
“Our commitment to decarbonization targets marks an important step on our journey to becoming a more sustainable company and as part of this, we are actively implementing initiatives to maximize energy and resource efficiency, reduce carbon intensity, and lower emissions,” Christian R. Gonzalez, ICTSI executive vice-president, compliance officer, and chief sustainability officer, said in a media release.
The company has committed to reducing greenhouse gas emissions and purchasing electricity by 26% per container move by 2030, contributing to its net-zero target.
Net zero refers to reducing greenhouse gas emissions to as close as zero as possible while offsetting any remaining greenhouse gases in the atmosphere.
“Making a positive environmental impact is fundamental to our business strategy which means we will continuously review and update our goals to ensure their relevance and accelerate our efforts towards mitigating climate change,” Mr. Gonzalez said. —