Monday, July 15, 2024

PPA earmarks P16B for maritime infra projects

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THE Philippine Ports Authority (PPA) will pour P16 billion into major maritime infrastructure projects in the next four years to modernize ports, which will boost domestic trade.

This was announced by Jay Daniel Santiago, PPA general manager, in a briefing during the celebration of the agency’s 50th founding anniversary.

In Luzon, PPA projects include the Port Capinpin Expansion Project in Bataan, Curimao Port Expansion and Restoration Project, and Jose Panganiban Port Improvement Project in Camarines Norte; Balogo Port in Camarines Sur and a wharf in Cagayan’s Claveria Port.

The port authority’s priority projects in the Visayas include the construction of a wharf and operational area in Catacbucan Port and Tapal Port Expansion Project in Bohol; New Port Development Project in Northern Samar; Babatangon Port in Leyte; Banago Port Improvement Project in Negros Occidental; and Ormoc Extension Project in Leyte.

Port projects in Mindanao include the construction of Cargo Ship Port in Napa, Surigao del Norte; upgrading of the General Cargo Berth in Davao City and Plaridel Port Expansion in Misamis Oriental.

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Santiago said the PPA has engaged consultants for these projects and expects their completion within one year.

He also said that the agency completed the Cruise Ship Port in Port of Jubang in the municipality of Dapa, Surigao del Norte, and the newly upgraded passenger terminal building at the Port of Tubigon in Bohol.

The Tubigon Port Passenger Terminal can accommodate more than 1,000 passengers at any given time. The new terminal building features state-of-the-art amenities including passenger waiting areas, baggage handling and food kiosks.

The PPA also completed the expansion of Balanacan Port in Marinduque, which aims to improve port facilities in order to accommodate the growing demands of maritime trade and commerce in the province.

Santiago also expects the PPA’s revenues to grow between 15 and 18 percent this year on the back of robust domestic trade. In 2023, the PPA recovered P25.44 billion in revenues, higher by 24 percent compared to the previous year’s record.

“We are targeting to remit P5.5 billion in dividends to the national government this year,” he said.

PPA remitted P5.06 billion in dividends, equivalent to 58.25 percent of its net earnings in 2023.

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