FILIPINO tycoon and Chairman and CEO of the Manila-listed company International Container Terminal Services Inc. (ICTSI) Ricky Razon, won the bid to build a $500-million shipping container terminal in Melbourne, Australia.
“We can’t wait for the new ICTSI of Ricky Razon to open in Australia,” said Anthony Weymouth, minister counsellor and senior trade commissioner during a recent news briefing in Makati City to introduce members of his group to the media.
“It’s a significant investment, $500 million,” he said, adding that it does not matter whether its Australian or American dollars since both currencies are almost equal in value, “but $500 million is significant amount in any language.”
“It’s a big deal, we’re really proud that Ricky’s organization has become a part of the business environment ofAustralia,” Weymouth said.
He said Razon’s operations anywhere in the globe has become a benchmark of sorts.
“It’s one of the most automated in the world, the equipment and technology that he will bring to Australia’s economy. I’m glad Filipinos companies are investing in Australia, in the same manner that Australian companies are investing in the Philippines,” he said.
Weymouth said the shipping container terminal, to be built in Melbourne, would have a capacity of 2.5 million twenty-foot equivalent units.
Razon, whose port management company has been cited by the Asian Development Bank as one of the top 5 major maritime terminal operators in the world, has reportedly signed a contract with Port of Melbourne Corp. to construct and operate a Terminal and Empty Container Park in the Port of Melbourne.
Razon’s project is in joint venture with Victoria International Container Terminal Ltd., 90-percent owned by ICTSI, and 10 percent by Anglo Ports Pty Ltd. Weymouth said the container terminal project is expected to be on stream in 2017.
An Australian firm, Austal, has built a shipyard in the Philippines constructing fast boats made of aluminum, Weymouthsaid. Austal is a leading global shipbuilder and defense contractor, which has acquired a $7-million shipyard at the WestCebu Industrial Park at Balamban.
Austal will invest a further $5 million to enhance the shipyard’s existing facilities and Weymouth said the firm will introduce new technology for the Philippines in fast seacraft technology. The firm exports its fast boats to Indonesia. The new Asian shipyard will have no adverse effects on Austal’s Australian and US operations, with both manufacturing facilities currently under contract for several significant multivessel, multiyear defense programs, news reports said.