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ICTSI has not bid for the Sasa port modernisation project in Davao

ICTSI has not bid for the Sasa port modernisation project in Davao
Philippines terminal operator International Container Terminal Services Inc (ICTSI) says it has not bid for the PHP18.99bn ($416m) Sasa port modernisation project in Davao.

In a clarification of local press reports that it was one of five bidders for the project in Davao ICTSI said it had only responded to a invitation for prospective bidders, which consisted of pre-qualification information, and not made a bid. It further noted the terms of reference for the project had not yet been released by Department of Transportation and Communication (DOTC).

Speaking to Seatrade Maritime News earlier this month ICTSI head for Asia – Pacific Christian R. Gonzalez said they considered the concession to be overpriced. He said the company would be very keen to bid if the investment required was roughly half the current level, but does not believe any terminal operator will be able to make money on the project at the current expected level of investment.