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Subic Bay Freeport will soon host a P4.135-billion multimodal logistics and transport hub to be constructed by Subic Bay Freeport Grain Terminal Services in partnership with Subic Bay Metropolitan Authority and
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SBMA senior deputy administrator for business and investment Renato Lee III and SBFGTSI executive vice president Lester Valdes signed the lease contracts and amendment to existing contracts on May 28
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The project includes a petroleum tank farm, grain storage, airport logistics hub, dry storage and warehouse facilities, cold storage areas, a commercial and hospitality hub for cruise ships
Subic Bay Freeport will soon host a P4.135-billion multimodal logistics and transport hub to be constructed by Subic Bay Freeport Grain Terminal Services, Inc. (SBFGTSI) in partnership with Subic Bay Metropolitan Authority (SBMA).
SBMA senior deputy administrator for business and investment Renato Lee III and SBFGTSI executive vice president Lester Valdes on signed the lease contracts and amendment to the existing contracts on May 28, SBMA said in a statement.
SBFGTSI is a locator at the Freeport and operates a bulk grain terminal at Leyte Wharf.
Lee said the construction of the multimodal logistics and transport hub will integrate sections along San Bernardino Road within the Subic Port District and parts of the Subic Bay International Airport.
The committed investment for the proposed development of these areas includes P660 million for Lot 4, P1.8 billion for Lot 5, P801 million for Lot 6, P20 million for Lot 7, and P854 million for Lot 8.
The project includes a petroleum tank farm, grain storage, an airport logistics hub, dry storage and warehouse facilities, cold storage areas, a commercial and hospitality hub for cruise ships, and a new wharf for ultra-large cruise ships.
It is expected to generate employment for 798 workers.
“This is a huge step for Subic Bay Freeport as it reaches its goal to have a more modern air and seaport which are expected to boost the port’s capacity, increase competitiveness, and generate more revenue,” Lee said.
SBMA earlier announced a number of port expansion projects with a budget of approximately $878.7 million. These include a new container terminal with a capacity of 300,000 twenty-foot equivalent units (TEU), estimated to cost $359 million; a multipurpose terminal at Redondo Peninsula, valued at $162 million; a multipurpose terminal in Lower Mau, supporting bulk and break- bulk industries, costing $182 million; and a dedicated cruise terminal to boost tourism, with an investment of P10.2 billion. – Roumina Pablo
