THE Department of Transportation (DoTr) said the Philippine Ports Authority has set in motion the privatization process for the Iloilo port, in the wake of proposals from a number of parties, one of which was considered “serious.”
“Actually (the proposal) for the privatization is now being processed by the Philippine Ports Authority. We have a lot of ports that are now being operated privately,” Transportation Secretary Jaime J. Bautista told reporters on the sidelines of a forum facilitated by the German-Philippine Chamber of Commerce and Industry last week.
Mr. Bautista was responding to a query on the status of an unsolicited proposal submitted by International Container Terminal Services, Inc. (ICTSI) for the development, operation and maintenance of the Iloilo Commercial Port Complex (ICPC).
The DoTr has received several proposals for the Iloilo port, he said, although Mr. Bautista declined to say how many.
“It is not important how many, what’s important is there is one serious proposal. There is one very serious proposal,” Mr. Bautista said.
In 2022, listed port operator ICTSI said it is planning to revive its proposal to develop and operate the ICPC.
ICTSI had estimated the investment required at more than P5 billion.
Established in 1987, ICTSI operates 33 terminals in 20 countries. — Ashley Erika O. Jose