The International Container Terminal Services Inc. (ICTSI) announced that it will build an $800-million new container terminal in Batangas, the largest privately funded marine terminal in the country's history.
In a statement, the firm said construction of the terminal will begin by the first quarter of next year.
"The new terminal will be the largest privately-funded marine terminal investment in the country’s history," described the firm in a statement on May 13.
ICTSI said the design and engineering studies for the terminal are currently underway. With an early 2025 start date, the first berth is expected to be finished by late 2027.
The terminal will have up to 900 meters of quay and eight ship-to-shore gantry cranes, along with estimated capacity of over two million twenty-foot equivalent units (TEUs) per annum.
Once completed, the terminal will be the second biggest container facility nationwide after the Manila International Container Terminal (MICT) at the Port of Manila, said the company.
The firm highlighted the role of the terminal in generating trading opportunities for Southern Luzon in both land and marine segments, since it will have direct access to the expressways through the Bauan-San Pascual-Batangas-STAR tollway diversion road, and other expressway projects from Cavite to Bauan by Metro Pacific Tollways Corporation (MPTC) and San Miguel Corporation (SMC).
It will also serve as an international gateway for shippers based in the CALABARZON region (Cavite, Laguna, Batangas, Rizal, and Quezon).
“The new terminal represents a significant leap forward for Southern Luzon. We are building a world-class facility that will unlock a wave of economic benefits for the region and the country," said ICTSI Executive Vice President Christian R. Gonzalez.
Gonzales added that 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."