The Philippine-based Anflocor Group of Companies will sink in P2.7 billion to build a container terminal in Panabo City in Davao del Norte, in the island grouping of Mindanao, to support the region’s growing export trade, particularly in bananas and pineapples.
Located at the wharf of Tagum Development Corp owned by Anflocor, the facility will be able to handle 240,000 twenty-foot equivalent units. Construction will start in the first quarter of 2012 and completion by 2013.
The container terminal will directly compete with Sasa Wharf, operated by Davao Integrated Port and Stevedoring Services, Corp, a subsidiary of International Container Terminal Services, Inc.
In another development, Metro Pacific Investment Corp (MPIC) is eyeing rehabilitation of the Mactan-Cebu International Airport after government auctions off the project to the private sector.
To cost $180.7 million, the project includes upgrading the existing passenger terminal building to address growing volume of local and international passengers as well as constructing a new cargo terminal.
In the first nine months of the year, the Mactan-Cebu International Airport handled 3,490 domestic and 3,467 international flights. Passenger traffic reached 4.65 million, up 16% from 4.02 million year-on-year.
The project’s business case and bid documentation are expected to start before end of the year, solicitation of bids by early next year, and awarding of contract by end of 2012.
Aside from MPIC, Ayala Land, Inc expressed interest to join the project.
Green Young Banana by tungphoto http://www.freedigitalphotos.net/images/view_photog.php?photogid=1708ind_3
