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The Public-Private Partnership Center of the Philippines, Bases Conversion and Development Authority, and the joint venture of Isla Lipana & Co., and Cabrera & Company signed the consultancy contract for the Poro Point Seaport Modernization Project
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The JV will assist BCDA in preparing the project preparation and transaction advisory, and advancing the transformation of the port facilities into a world-class maritime gateway for Northern Luzon
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Specifically, the JV will conduct market studies, determine the economic and financial viability of the project, assist in securing all required government approvals, prepare bid and tender documents, and provide post-contract signing advisory services
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The PPSMP covers upgrading port infrastructure and logistics, including container handling, larger storage capacity, and modern terminal operations management of the existing San Fernando International Seaport
The Public-Private Partnership (PPPC) Center of the Philippines, Bases Conversion and Development Authority (BCDA), and the joint venture (JV) of Isla Lipana & Co. and Cabrera & Company have signed the consultancy contract for the project preparation and transaction advisory for the Poro Point Seaport Modernization Project (PPSMP).
The agreement was signed on July 17 by PPP Center executive director Rizza Blanco-Latorre and deputy executive director Eleazar Ricote; BCDA president and chief executive officer Joshua Bingcang; and Isla Lipana & Co. managing partner Mary Jade Roxas-Divinagracia.
“Today’s signing marks the first major milestone in our journey toward modernizing the Poro Point Seaport in La Union and positioning it as a strategic economic gateway for Northern Luzon,” Ricote said during the signing event.
“More than the signing of a contract, it reflects our shared commitment to strengthening regional connectivity, fostering sustainable economic growth, and creating greater opportunities for our local industries and communities,” he added.
PPP Center, in a notice of award dated July 13, granted Isla Lipana & Co., the P68.078 million contract for the preparation and transaction advisory service for the project that aims to modernize the San Fernando International Seaport (SFIS) that is located within the 236.5-hectare Poro Point Freeport Zone in La Union.
Through its Project Development and Monitoring Facility (PDMF), the PPP Center procured the services of the JV of Isla Lipana & Co., the Philippine member firm of the global PwC network, and Cabrera & Company as transaction advisor for the project.
The JV will assist BCDA in preparing the PPSMP and advancing the transformation of the port facilities into a world-class maritime gateway for Northern Luzon.
The JV’s to-do list
Under the engagement, the transaction advisor will conduct market studies, determine the economic and financial viability of the project, assist in securing all required government approvals, prepare bid and tender documents, and provide post-contract signing advisory services.
The PPSMP involves upgrading port infrastructure and logistics, including container handling, larger storage capacity, and modern terminal operations management. This redevelopment is expected to spur regional economic growth, attract new investments, establish a more competitive trade route for industries across Northern Luzon, and significantly improve the Philippines’ overall maritime logistics capabilities.
BCDA earlier said the project aims to transform the current bulk and break-bulk terminal, SFIS, into a world-class logistics hub with modern port infrastructure and systems, enabling full containerization, streamlining logistics, and strengthening Northern Luzon’s role in global trade.
SFIS currently only handles bulk cargo and principally imports oil products, cement, and fertilizers, and exports ore concentrates, timber, and gold.
A technical assistance agreement was signed in August 2025 among the PPP Center, BCDA, and the Poro Point Management Center to tap the PDMF for the procurement of consultants for project preparation and transaction advisory services.
PPP Center said the engagement underscores its role in assisting implementing agencies through the PDMF by providing technical assistance and project development support to ensure that PPP projects are well-prepared, efficiency structured and positioned to drive sustainable regional growth and long-term value to the public.
