BoI okays P2.35-B Iloilo City seaport modernization project

The 25-year Port Terminal Management Contract between the Philippine Ports Authority (PPA) and International Container Terminal Services Inc. (ICTSI) for the development of the Visayan Container Terminal (VCT) in Iloilo City which was given the greenlight by the Board of Investment (BoI) is seen as giving the Philippine shipping industry a boost.

The BoI, in a statement on Thursday, said it has already issued a Certificate of Registration for the ICTSI’s bid to modernize, manage, and operate the VCT, a landmark project that will cost a total of P2.35 billion was registered on 27 December 2024 following a Board Approval last 20 December 2024.

The project will transform the old Iloilo Commercial Port Complex into a state-of-the-art facility, positioning it as a key driver of regional economic growth and competitiveness.

Benchmark for service quality

Port modernization will include investments in advanced cargo handling equipment, cutting-edge information technology systems, and enhanced civil infrastructure, setting a new benchmark for service quality in the region.

Once lacking foreign container operations, the Iloilo port has undergone a significant transformation.

Modernization efforts have focused on upgrading port facilities, notably expanding existing berths to accommodate large foreign vessels and boost cargo capacity.

The project will further enhance the port’s capabilities in the deployment of Mobile Harbor Cranes with a reach of 46 meters and a lifting capacity of 100 tons.

The innovation significantly enhances the port's flexibility, efficiency, and capacity to handle various cargo types, including containerized, bulk, general and project cargo.