ICTSI chairman reveals ambitious plans as Manila-based company celebrates 25th year
The chairman of International Container Terminal Services Inc. (ICTSI), celebrating its 25th year, has this week revealed the Manila-based terminal operator’s ambitious plans of operating as many as 100 ports throughout the world in just 25 years.
“We do not merely look forward. We look far ahead. From one port in 1988, to 27 ports in 2013, and to 100 ports in the next 25 years,” ICTSI chairman Enrique K. Razon Jr told the Manila Bulletin.
“When we established this company, we saw a pioneering opportunity.”
“The new administration was experimenting on economic policies and ways to raise money for a bankrupt treasury, and privatisation was one of the roads they decided to take to generate funds through the sale of government owned or controlled assets.”
ICTSI has also announced that it handled its 25th million TEU at it flagship Manila International Container Terminal (MICT) in June, the anniversary month for the terminal operator.
When the company was founded a quarter of a century ago, MICT had a capacity of just 450,000 TEU. Today it is the largest port in the Philippines with a capacity of 2.5 million TEU.