PMGA to lead inauguration of new container terminal in Subic

President Gloria Macapagal-Arroyo is set to lead the inauguration of the first phase of the $ US 215-million Subic Port Modernization project on July 19, a flagship infrastructure project of the national government.

The construction of the entire port modernization project, which is being implemented under the auspices of the Japan Bank for International Cooperation (JBIC), was designed to make the Subic seaport a major container port in the country.

Subic Bay Metropolitan Authority (SBMA) Chairman Feliciano Salonga said that the port project is part of the national government's vision to make Subic Bay and Clark Freeport zones, growth corridors for new investments, spurring economic growth in the area and promoting the same as regional logistic hubs.

He said that the alliance between Subic Bay and Clark is part of the long-term master plan that would be linked through the construction of the $ 425-million Subic-Clark toll road and the $ 215-million port modernization program both funded by the JBIC Special Loan Package.

The port's construction commenced in 2004 as implemented by Penta Ocean Corp., with its partners Shimitsu Corp and TOA Corp, through a joint venture. It entailed the installation of four gantry cranes from Japan, two of which were installed in May 2006, and the other two in March 2007. This will eventually position the Subic port as a world class economic hub.

Meanwhile, SBMA Administrator Armand Arreza noted that the completion of the first phase of the port modernization project will also accelerate the completion of other projects being implemented in the Subic Bay Freeport such as the $ US 1.6-billion Hanjin shipbuilding facility.

"The completion of the New Container Terminal 1 (NCT-1) boosts our confidence that the Subic Bay Freeport will soon be a key player in the containerized and non-containerized cargo handling business in the entire Asia-Pacific region.

This will attract more shipping companies worldwide to use the Subic port, while helping decongest the traffic in the Port of Manila," Arreza said.

The operation of (NCT-1) will be awarded to the globally competitive Subic Bay International Terminal Corp., (SBITC) after approval and concurrence was granted by the SBMA Board of Directors and JBIC, respectively. (PNA)