ICTSI clarification of news reports - 1

Security Name : Int'l Container Terminal Services, Inc. Date : 07/20/2017 Headline : C04494: ICTSI clarification of news reports - 1 Source : Content : Source: Inquirer.net Subject of News Report: MVP group, ICTSI to push P10-B railway plan Date of Publication: Jul 20, 2017 Clarification of News Report: We write in reply to PSE's letter dated July 20, 2017 seeking clarification and/or confirmation of the news article entitled "MVP group, ICTSI to push P10-B railway plan" posted in Inquirer.net on July 20, 2017. The article reported in part that: "The group of businessman Manuel V. Pangilinan said talks for a freight train line linking Manila and Laguna were 'back on track' with the appointment of a new board at the Philippine National Railways. MRail Inc., a subsidiary of Pangilinan-led Metro Pacific Investments Corp., said in a statement yesterday that discussions had resumed with the PNR for the railway project that would revive freight service operations from the Port of Manila to the Laguna Gateway Inland Container Terminal. The company announced in July 2016 that the project, estimated to cost P10 billion, would be a venture between Enrique Razon Jr.'s International Container Terminal Services Inc., which operates the inland container terminal as well as the Manila International Container Terminal. ...." INTERNATIONAL CONTAINER TERMINAL SERVICES, INC. (ICTSI) has continued discussions with MRail, Inc., a MERALCO subsidiary, on how they can cooperate in easing the traffic in the greater Metro Manila area and encourage provincial development.

source: Technistock