International Container Terminal Services Inc. (ICTSI), led by billionaire Enrique Razon Jr, is investing $800 million to construct a new international cargo terminal in Bauan, Batangas, south of Manila. The construction of the terminal is set to begin next year, with the first berth expected to be completed by the end of 2027. The facility will feature 900 meters of quay and eight ship-to-shore gantry cranes capable of handling over two million twenty-feet equivalent units (TEUs) of containerized cargoes annually.
Once fully operational, the Batangas port will become the Philippines’ second-largest cargo terminal, following ICTSI’s Manila International Container Terminal (MICT), which can handle 3 million TEUs a year. The strategic location of the new terminal, approximately 120 kilometers south of MICT, aims to unlock economic benefits for the region and the country. ICTSI Executive Vice President Christian R. Gonzalez stated that the facility will create new job opportunities, enhance the quality of life for host communities and industries surrounding the terminal, and strengthen Southern Luzon’s role in global trade.
The new terminal project is part of ICTSI’s ongoing international expansion efforts, as the Manila-based port operator seeks new growth opportunities around the world. Last week, the company announced plans to invest $450 million in capital expenditures this year to support expansion plans in Africa, Asia, and South America. These projects are expected to be backed by robust cash flows, with ICTSI recording a 36% increase in net profit to $209.9 million in the first quarter of the year, along with an 11% rise in gross revenue to $637.7 million.
The roots of ICTSI’s port business can be traced back to Razon’s grandfather, who initiated the business in Manila in 1916. Over the years, Razon has expanded the business globally, operating in 19 countries and employing over 11,000 individuals. In addition to ICTSI, Razon serves as the controlling shareholder of Bloomberry Resorts, the operator of the Solaire Resort and Casino in Manila, as well as privately held Prime Infrastructure Capital, which focuses on water utilities, gas, and renewable energy assets. Forbes’ real-time data estimates Razon’s net worth to be around $10.7 billion.
The investment in the new Batangas port underscores ICTSI’s commitment to enhancing its global presence and supporting economic development in the Philippines. The construction of the terminal is expected to boost trade activities in the region, create employment opportunities, and contribute to the growth of various industries. Moreover, with ICTSI’s strong financial position and track record of success, the company is well-positioned to capitalize on new opportunities and continue expanding its footprint across key international markets.
As ICTSI moves forward with its ambitious expansion plans, the company remains focused on sustainable growth and community engagement. By investing in state-of-the-art infrastructure and leveraging its expertise in the port industry, ICTSI aims to drive economic progress, foster innovation, and strengthen connections between the Philippines and the global trade network. With the new terminal in Batangas set to become a key hub for containerized cargoes, ICTSI is poised to play a pivotal role in shaping the future of the country’s logistics and maritime sectors.
