SUBIC BAY FREEPORT, Philippines — Bulk and break-bulk cargo specialist Subic Bay Freeport Grain Terminal Companies Inc. (Subic Grain) has dedicated some P4.135 billion for the event right here of a multi-modal logistics hub that may seamlessly combine services for seaport and airport cargo dealing with, in addition to cruise tourism.
Subic Grain Government Vice President Lester Valdes and Subic Bay Metropolitan Authority (SBMA) Senior Deputy Administrator for Enterprise and Funding Renato Lee III signed on Wednesday, Might 28, the lease contracts for the mission, the SBMA introduced on Friday.
The multi-billion mission will embrace improvement of a petroleum tank farm, grain storage, airport logistics hub, dry storage and warehouse services, chilly storage areas, a industrial and hospitality hub for cruise ships, and a brand new wharf for ultra-large cruise ships.
“It is a enormous step for the Subic Bay Freeport (in) its purpose to have a extra trendy air and sea ports, that are anticipated to spice up capability, enhance competitiveness, and generate extra income,” Lee stated after signing the deal.
Lee stated the mission may even combine sections of the San Bernardino Highway inside the Subic Port District and elements of the Subic Bay Worldwide Airport (SBIA). Subic Grain’s terminal is strategically positioned between the airport and the container terminal, with the San Bernardino Highway utilized by container vehicles operating immediately into the agency’s facility.
The multi-modal logistics hub mission can be anticipated to generate employment for 798 staff.
In response to Subic Grain’s mission proposal, the agency will develop the areas in heaps: 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.
Subic Grain, which is the flagship agency of the S.T.A.R. Companies Group, additionally operates the Naval Provide Depot (NSD) Port right here, together with sister firm Mega Subic Terminal Companies Inc.
The proposed multi-modal logistics hub is predicted to additional enhance the SBMA’s imaginative and prescient for a inexperienced port metropolis.
SBMA Chairman and Administrator Eduardo Jose Aliño earlier stated that port enlargement initiatives totaling US$878.7 million, in addition to a shore energy connection mission (SPCP) value P250 million, are among the many improvement priorities set by the company for the subsequent three years.
Subic’s port improvement program consists of the development of a 3rd container terminal with a capability of 300,000 TEUs, estimated at US$359 million; a multipurpose terminal on the Redondo Peninsula, at US$162 million; a multipurpose terminal in Decrease Mau, for bulk and break-bulk cargoes, at US$182 million; and a devoted cruise terminal to spice up tourism, with an funding of P10.2 billion.
The shore energy mission, which is predicted to spice up Subic’s carbon-neutral bid, is about to start out in 2026 on the New Container Terminal with a finances of P100 million. Part 2, protecting the Naval Provide Depot and Ship Restore Facility, is about for 2027 to 2028, with a finances of P150 million.