International Container Terminal Services Inc. (ICTSI), led by billionaire Enrique Razon Jr, is investing $800 million in building a new international cargo terminal in Bauan, Batangas, south of Manila. Construction of the terminal will start next year, with the first berth expected to be completed by the end of 2027. The facility will have 900 meters of quay and eight ship-to-shore gantry cranes that can handle over two million twenty-feet equivalent units (TEUs) of containerized cargoes annually.
The Batangas port will be the Philippines’ second-largest cargo terminal, next to ICTSI’s Manila International Container Terminal (MICT), which can handle 3 million TEUs a year. The new terminal’s strategic location, about 120 kilometers south of MICT, is intended to bring economic benefits to the region and the country. Christian R. Gonzalez, ICTSI executive vice president, stated that the facility will create new employment opportunities, improve the quality of life for host communities, and solidify Southern Luzon’s position in global trade.
ICTSI’s new terminal in Batangas is part of its global expansion strategy as the Manila-based port operator seeks new growth opportunities. The company recently announced plans to invest $450 million in capital expenditures this year to fund expansion projects in Africa, Asia, and South America. Strong cash flows have supported these developments, with ICTSI reporting a 36% increase in net profit to $209.9 million in the first quarter, along with an 11% rise in gross revenue to $637.7 million.
The port business, originally started by Razon’s grandfather in Manila in 1916, was rebuilt and expanded globally by Razon in recent decades. ICTSI now operates across 19 countries and employs over 11,000 people. In addition to ICTSI, Razon is also the controlling shareholder of Bloomberry Resorts, operator of the Solaire Resort and Casino in Manila, as well as Prime Infrastructure Capital, which focuses on water utilities, gas, and renewable energy assets. With a net worth of about $10.7 billion, according to Forbes’ real-time data, Razon continues to drive growth and expansion in various industries.
Overall, ICTSI’s investment in the new international cargo terminal in Batangas reflects its commitment to expanding its global footprint and contributing to economic growth in the Philippines. With a focus on creating new employment opportunities, improving community livelihoods, and enhancing the region’s role in global trade, the terminal is expected to have significant positive impacts. Supported by strong financial performance and strategic investments, ICTSI and Razon continue to drive innovation and growth in the port and infrastructure sectors.
