MANILA's International Container Terminal Services (ICTSI) has announced plans to build a large new international container terminal in the southern Philippines that can become a key international gateway and drive regional economic growth, reports Fort Lauderdale's Maritime Executive.

To be located in Bauan, Batangas, Philippines it will be the second-largest container facility in the country serving one of the Philippines'' fastest-growing regions.

The terminal will also represent the largest privately funded marine terminal investment in the country's history, according to ICTSI. It is part of the government and company's strategy to develop a national network of ports.

It also comes as various parts of Asia are competing to become regional hubs to support the container carriers' growth strategies and the emergence of the hub-and-spokes operations.

"The new terminal represents a significant leap forward for Southern Luzon," said Christian R Gonzalez, ICTSI executive vice president. "We are building a world-class facility that will unlock a wave of economic benefits for the region and the country."

Strategically located 120 kilometers (75 miles) south of Manila and nine kilometers (5.5 miles) west of Batangas City, ICTSI says the Bauan facility will become the premier international gateway for shippers based in the region. They highlight that it is a strong agro-industrial region of the Philippines.

Construction will begin in 2025 with an estimated US$800 million investment. It will have an estimated annual capacity of over two million TEU. Upon completion, the terminal will feature up to 900 metres (nearly 3,000 feet) of quay and at least eight ship-to-shore gantry cranes. It will be built on a natural cove to support easy access and it will be supported with access to the highway system.