PNoy inaugurates ICTSI's $600M berth

by Willard Cheng, ABS-CBN News

Posted at Jun 29 2012 01:05 AM | Updated as of Jun 29 2012 09:06 AM

MANILA, Philippines - President Benigno Aquino on Thursday inaugurated the sixth berth of the Manila International Container Terminal, considered as the flagship terminal of the International Container Terminal Services Inc. (ICTSI)
An investment worth US$ 200 million, Berth 6 was completed after two years of construction and development.

Berth 6 increases MICT’s terminal capacity from 1.9 million twenty-foot equivalent units (TEU) to 2.5 million (TEUs) annually.
ICTSI chairman and president Enrique Razon said that while the company has expanded overseas, the Philippines remains to be its priority.
“With the country attracting more foreign investment than ever, we now have added capacity to quickly and efficiently move cargo. An investment of 200 million US dollars, this new berth will enable the seamless facilitation of the country’s growing global trade in the next few years,” Razon said in his speech.
“Despite our expansion overseas, we remain bullish on the Philippines and it will always be our priority. And when the time comes for brisker Philippine trade, the MICT will be ready with Berth 7,” he added.
ICTSI general manager thanked Manila Mayor Alfredo Lim, DOTC Sec. Mar Roxas for their support, and President Aquino “for championing a business friendly environment, spurring economic growth and international trade” which, he said, gives the ICTSI “the ability to do our jobs.”