International Container Services, Inc. (ICTSI) port  and terminal in Manila.

MANILA -- Billionaire Enrique Razon's International Container Terminal Services Inc. (ICTSI) is building a new $800 million terminal in Batangas. 

In a statement, the ports giant said it is building a new terminal in Bauan, which will be the largest privately-funded marine terminal investment in Philippine history.

The terminal will have 900 meters of quay and at least 8 ship-to-shore gantry cranes, and an estimated capacity of over 2 million twenty-foot equivalent unit (TEUs).

This will make it the second-largest container facility after the Manila International Container Terminal.

Construction will begin in 2025, and the first phase is expected to be complete by 2027.

ICTSI said the terminal has direct access to key expresssways in southern Luzon, like the Bauan-San Pascual-Batangas-STAR tollway diversion road.

More projects from Cavite to Bauan by Metro Pacific Tollways Corporation and San Miguel Corporation will boost its connectivity in the future, ICTSI said.

ICTSI executive vice president Christian Gonzales said the terminal will unlock a wave of economic benefits both for southern Luzon and the Philippines.

"It will create new employment opportunities, improve the quality of life for our host communities and the industries located around the terminal, and solidify Southern Luzon's position as a key player in global trade," he said.

In April, ICTSI was awarded a 25-year contract to develop and operate a commercial port in Iloilo.

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