MANILA, Philippines - The Philippine Ports Authority (PPA) has reset to Feb. 15 the turnover of the management and operations of the North Harbor to Manila North Harbour Port Inc., the joint venture company of Harbour Centre Port Terminals Inc. (HCPTI) and Metro Pacific Investments Corp. (MPIC).
MPIC said the PPA has sent a notice to the joint venture company to move the turnover to a later date to ensure a smooth transition.
The MPIC-HCPTI joint venture earlier won the 25-year contract to develop, manage, operate, and maintain at a cost of P14.5 billion the country’s oldest and busiest port facility.
The P14.5 billion will cover the capital expenditure plan to reconfigure the existing ports, expand its operational area from 52 hectares to 70 hectares and improve operational facilities.
This will raise more than P6.8 billion in revenues for the PPA over 25 years and decrease port rates at an average of 10 to 15 percent, according to the consortium, even as it added that more than 1,000 workers of the different operators of North Harbor will be absorbed and not displaced, while an additional 20,000 jobs will be generated directly and indirectly by the ambitious construction and modern operations entailed in the modernization.
The consortium noted that the project will facilitate inter-island shipping and boost the economy as a whole since the harbor will be dredged to accommodate even bigger ships such as tankers and international luxury liners.
The port will be fitted with modern cranes, including bigger and wider container and cargo depot to accommodate more containers coming from the provinces in the South.
Phase I of the project will be implemented over a period of six years. The first year of the contract should complete the crane rail for two Load On-Load Off (LO-LO) berths at Terminal 1 and pavement/concreting of container yards. After the completion of the crane rail for the two LO-LO berths, the operator shall procure two shore cranes and support equipment.