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The P14.5-billion(US$311.3585 million) bid submitted by the joint venture will cover the capital expenditure plan to reconfigure the existing ports, expand the 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 10-15 per cent.
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.
After meeting all the criteria of the two-year rigorous pre-qualification and bid process mandated by the PPAs terms of reference, we are pleased that we have finally won the bid for this ambitious project and start gearing up for another growth opportunity in MPICs core business in infrastructure, said MPIC president and chief executive officer Jose Ma. K. Lim.
The project will facilitate interisland 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 berths at Terminal 1 and pavement concreting of container yards.
After the completion of the crane rail for the two berths, the operator shall procure two shore cranes and support equipment.
Michael Romero, Harbour Centre chief executive officer, said The modernization of North Harbor would revitalize and enhance economic activities in Manila, specially in Tondo, and would result to the emergence of new and improved image of Manila and the Philippines.
The other components of Phase 1, such as reclamation, construction of additional load on-load off berths and roll onroll off berths and the development of an information technology (IT) system to facilitate travel and cargo handling, shall be completed within three years from the start of the contract.
Phase II of the project will cover the development of Terminals 2 and 3 and the second Passenger Terminal Building at Slip 5, which shall be constructed within a period of three years, commencing from completion of Phase I.
(PNA)lm
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