ICTSI's Moderna vaccines to arrive June

The COVID-19 vaccines ordered by International Container Terminal Services Inc. from Moderna Inc. are set to arrive by June, an official said Thursday.

In the company's virtual annual stockholders' meeting, Chairman Enrique Razon was asked for a timeline for the arrival of the vaccines from the Cambridge-based biotechnology firm.

"Moderna vaccine will be arriving towards the end of the second quarter which is in June," he responded. He did not elaborate.

ICTSI Chairman Enrique Razon Jr. says COVID-19 vaccines ordered from Moderna are expected to arrive towards the end of the second quarter or in June. $ICT pic.twitter.com/IqNEki28Tt

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ICTSI is part of the Moderna Vaccine Buyers' Group, which has participated in the government's vaccination efforts and inked agreements with the manufacturers.

Earlier this week, the Food and Drug Administration (FDA) said it is still waiting for Moderna to file an application for an Emergency Use Authorization (EUA).

ICTSI has allocated $250 million for its capital spending program this year, reflecting a 30% increase from its actual capital outlays of $198.7 million last year.

The amount will be used mainly to finance the expansion of the Manila International Containter Terminal Inc. (MICT), the yard expansion of its Matadi port in the Democratic Republic of Congo, and the new expansion project in Melbourne, Australia.

ICTSI is involved in 31 terminal concessions and port development projects in some 18 countries across the globe -- Philippines, Indonesia, Papua New Guinea, Brazil, China, Ecuador, Poland, Georgia, Madagascar, Croatia, Pakistan, Honduras, Mexico, Iraq, Argentina, DR Congo, Colombia, Australia.

Shares in the company opened Thursday at P126.00, down from Wednesday's finish of P126.60.

In January, vaccine czar Carlito Galvez Jr.  said the Philippines is set to acquire 20 million doses from Moderna, 10 million for the private sector, and the remaining 10 million for the government.

Galvez earlier said the Philippines targets to vaccinate some 50 to 70 million Filipinos this year, but several agencies have expressed doubts that this will be achieved.—AOL, GMA News