Subic free port gets $10-M projects in Q3
SUBIC BAY FREE PORT — More companies involved in the storage, transshipment and transport of goods have established operations in this free port in the third quarter, putting up projects worth a total of $9.98 million in projected investments.
The investments in logistics comprised almost half the $20.45-million pledges for the 44 projects approved by the Subic Bay Metropolitan Authority (SBMA) in that period.
A report from the SBMA business and investment group indicated that at least six firms engaged in logistics services set up projects here from August to September, as authorities intensified efforts to market Subic as a center for shipping and transshipment.
The firms included Pure Petroleum Corp., which has a projected investment of $6.22 million to import, sell, store and transship petroleum products; Chifil International Import-Export Manufacturing Co. Inc., which will put up $1.41 million for cigarette manufacturing, packaging, warehousing, transshipment and reexporting of manufactured cigarettes; Mateen Tokyo International Inc., with $550,000 for the import and export of machinery, equipment and electronics and food products; and Petron Corp., with $1.02 million for a fuel retail outlet, with ancillary facilities like a bus terminal, convenience store, coffee shop and restaurant.
Two other companies—Kerry-Aboitiz Logistics Inc. and APL Logistics Inc.—will each put up freight- forwarding operations here. For their Subic operations, Kerry-Aboitiz committed $45,000, while APL pledged $20,000.
Of the 44 projects approved by the SBMA in August and September, Pure Petroleum Corp.’s $6.22 million venture had the biggest investment projection.
Five other projects registered in the same period also breached the $1-million investment mark. These are Subic Business and Technology College Inc.’s learning center, which is worth $4.29 million; Bonsure Evergreen International Corp.’s food- manufacturing venture, worth $2.22 million; Chifil International’s $1.41-million cigarette import-export project; Petron Corp.’s $1.02-million fuel outlet; and RGO Megatrade Inc.’s export operations, with a $1-million investment projection.
According to Stefani Saño, SBMA senior deputy administrator for business and investment, the 44 approved projects are projected to create a total of 765 new jobs in the Subic Bay Free Port.
The SBMA is now actively promoting both its sea port and airport as ideal shipping and transshipment hubs for import-export firms and other port users, especially those from Central and Northern Luzon regions.
Ferdinand Hernandez, SBMA senior deputy administrator for operations, said that the agency “is on the right track” in marketing the Port of Subic to more shippers, importers, brokers and cargo forwarders, as he noted the surge in income at the Subic seaport in the first half of 2009.
He added that huge investments in infrastructure like the Subic-Clark-Tarlac Expressway and Subic’s new container terminal “have made the SBMA’s marketing strategies for the port very effective.”
This, in turn, enabled the SBMA “to greatly enhance Subic’s performance as a logistics hub,” Hernandez said. Written by Henry Empeño / Business Mirror Correspondent