SUBIC FREEPORT ZONE – The P10 billion modernization in Subic Port is expected to expand trade and provide seamless flow of goods in the Subic-Clark corridor and the Luzon area.
The Harbour Centre Port Terminal Inc. (HCPTI) in a joint venture with the Subic Bay Metropolitan Authority (SBMA) inaugurated the Subic Port at the NSD Complex in Subic Bay Freeport zone on Tuesday, December 5, 2023.
The 10-year joint venture involves the revitalization and modernization of the ports and cargo handling operations at the piers, including Alava, Rivera and Boton.
“We have to make Subic contribute significantly to total national employment, productivity, trade volume, capital inflows and gross international reserves. This pursuit entails modernization of infrastructure and complete digitalization of all segments of operations,” said Reghis M. Romero II, Chairman of HCPTI.
Romero said that to ensure economic expansion amid growing domestic requirements, the country has to trade beyond borders and attract foreign capital and technologies, and other innovations to ensure success, hinting on the priority of the goals of the SBMA-HCPTI partnership.
The 50 hectares of land area is covered by the agreement, and initial capital infusion of P10 billion to modernize the port infrastructure and fully digitalize the operations.(PR)
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