The National Economic Development Authority (NEDA) should now approve the privatization of the Iloilo ports.
Senator Franklin Drilon told a media interview yesterday that port handling operator Enrique Razon Jr. has committed “to invest P2-Billion” immediately upon approval of the concession.
Razon, through the International Container Terminal Services Inc. (ICTSI) has a pending “unsolicited proposal” to develop the ports of Iloilo and Dumangas for P8.5-Billion in 25 years.
The Ilongo solon noted “the inefficient operation” of Iloilo port due to inadequate facilities. The Philippine Ports Authority (PPA) has no funds for upgrading, while the private sector has the money and competence for this undertaking, Drilon said.
Drilon spoke as a resource person at the Iloilo Investment Forum held December 9 and 10, 2020, a private sector-led virtual business briefing.