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Philippine Tycoon Enrique Razon Consolidates Manila Port Interest Into ICTSI | Hellenic Shipping News Worldwide

Philippine Tycoon Enrique Razon Consolidates Manila Port Interest Into ICTSI
Billionaire Enrique Razon is consolidating his stake in Manila Harbor Center into International Container Terminal Services Inc. (ICTSI) as part of initiatives to boost efficiency in the Philippines’ busiest port.
ICTSI, which is controlled by Razon, has agreed to acquire Manila Harbour Center Port Services Inc. for 2.4 billion pesos ($51 million) from Prime Strategic Holdings Inc., according to a stock exchange filing. Prime Strategic is Razon’s holding company for his interest in infrastructure investments such as the Chico hydropower project in Northern Philippines.
“We believe there is a strong opportunity to drive greater efficiencies in the port area through better, more coordinated use of facilities and through the centralized management of bulk handling activities,” ICTSI said in a statement. ....

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Philippine Tycoon Enrique Razon Consolidates Manila Port Interest Into ICTSI

Billionaire Enrique Razon is consolidating his stake in Manila Harbor Center into International Container Terminal Services Inc. (ICTSI) as part of initiatives to boost efficiency in the Philippines’ busiest port. ....

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MORE Power energizes 1st major project in Iloilo City

Published December 11, 2020, 2:13 PM
ILOILO CITY – MORE Electric and Power Corp. (MORE Power) embarked on its first major project in this city by energizing a mobile power substation here.
The 10-megavolt ampere (10 MVA) substation of MORE Electric and Power Corp. (MORE Power) at Iloilo Business Park. (Megaworld / MANILA BULLETIN)
The 10-megavolt ampere (10 MVA) substation of the power utility, owned by magnate Enrique Razon Jr. of Prime Strategic Holdings Inc., was recently unveiled at the Iloilo Business Park, the township of Megaworld Corp. in Mandurriao district.
“The 10 MVA mobile substation is not only a behemoth power-provider on wheels, it is also the answer to the ever-present danger of overloading of the Mandurriao substation,” said Razon in a virtual message. ....

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