16 trk Live recording/one long session/cpr. file

I was given a live recording of 16 tracks in one long hour and a half project/cpr. file.
My question is, what’s the easiest,quickest, most sensible way to take each song’s tracks and
make them their own session/cpr. in their own folder?
I want to be able to open up EACH song/folder with it’s own cpr. and
it’s associated audio tracks/files for that song.
I’ve already applied the plugins I want on each track/group and master out which I’d like to
follow every song.

thanks in advance

I think I’d save the project as a template, then create a new project for every track using that template, deleting all the other tracks every time.