By GENIVI FACTAO

International Container Terminal Service Inc. (ICTSI) is investing P4.5 billion to reclaim land adjacent to the Manila International Container Terminal (MICT).

The expansion will enable ICTSI to meet growing demand in containerized business.

The Philippine Ports Authority and the Philippine Reclamation Area have approved the conceptual plan for the reclamation and development of about 23.4 hectares.

The site preparation and development will start this year and will be completed next year.

ICTSI will start importing equipment in June, which will continue until 2009. Commercial operation will start in 2010.

The project involves the construction of berth 6, located north of MICT including a cement wharf of MICT to meet the high demand in containerized traffic in the port.

ICTSI will service containerized cargo of post Panamax class vessel of up to 85,000 dwt.

The wharf will support the rail mounted post Panamax container cranes and five 12 meter draft berthing slots.

ICTSI will have reclamation extending 20 meters beyond the bulkhead walls. It will have separate line for receiving and loading new container depot.

The expansion is a pioneer project that is entitled for incentives under the 2007 and 2008 IPP guidelines for physical infrastructure.

One of the requirements for being a pioneer is to have project construction equivalent to at least $100 million.

The seaport project will generate 185 jobs.

ICTSI will be expanding the capacity of MICT to handle more than 2 million TEUs (twenty foot equivalent units) next year from its current capacity of 1.6 million TEUs. MICT’s volume reached 1.37 million TEUs.

ICTSI has increased its capital expenditures for this year to about P10 billion, from P9.9 billion last year due to acquisition of new equipments for Ecuador and construction of terminal in Columbia and Poland.

ICTSI will also expand the facilities in Brazil, Poland, Indonesia, Ecuador, and Georgia.