ICTSI investing P15b to build new berth at Manila terminal

By Darwin G. Amojelar INTERNATIONAL

Container Terminal year. This brought the bureau’s fourmonth tally to P281.4 billion, 10.68 percent or P27.2 billion better than a year ago.

Income of the Bureau of the Treasury eased 28.89 percent or P7.4 billion to P18.3 billion from a year earlier. “The downturn for the month was mainly attributed to the base effect of early remittances of dividends from GOCCs last year. As of end-April, total BTr revenue amounted to P57.3 billion, also down by 23.03 percent or P17.1 billion owing to the same reason,” the Treasury said.

Non-tax collections from offices, including privatization proceeds and fees and charges, reached P18.8 billion, 24.16 percent or P3.7 billion higher than a year ago.

The positive outturn for the month led to a higher cumulative collection of P79.0 billion, surpassing the level recorded in the first four months by 48.76 percent or P25.9 billion.

Data showed that government disbursements in April increased 9 percent to P373.9 billion from P343.0 billion last year owing mainly to the subsidy release to PhilHealth, larger capital expenditures of the Department of Public Works and Highways and Department of Transportation and higher interest payments during the month.

“The spending growth was tempered by the decline in transfers to local government units due to lower national tax allotment shares. Total expenditures for the four-month period reached P1.5 trillion, inching up by 1.33 percent or P19.2 billion on a year-to-date basis,” it said.

Services

Inc. said Monday it is investing P15 billion to build another berth at the Manila International Container Terminal.

It said Berth 8, to be constructed in phases, would add to the MICT’s capability to service foreign ultra-container vessels of up to 18,000 TEUs (twentyfoot equivalent units), a trend that has been growing in the past years.

The new berth will create another 400 meters of quay along with 12 hectares of yard space that will bring an additional annual capacity of 200,000 TEUs.

It said that when completed, MICT would have an annual capacity of 3.5 million TEUs, making it the Philippines’ largest international gateway. The full build will give MICT a total berth length of 2,300 meters, a 21 percent increase in berthing capacity.

“We are excited to announce the development of Berth 8, which enables us to be in the same league as the world’s top terminals. More importantly, this will bring significant economic benefits to the Philippines as we have the added capacity to handle growing trade volumes,” said ICTSI executive vice president Christian Gonzalez.

MICT is capable of handling neo-

Panamax ships through Berths 6 and 7, which are operated by five quay cranes.

A sixth crane, scheduled to arrive in July 2023, will be operational within the year. Berth 8 will operate with a minimum of four QCs, including two that will be delivered in 2025.

Since taking over the MICT in 1988, ICTSI has remitted in excess of P96 billion to the government through the PPA. Over the same period, ICTSI has remitted to its host government--the city of Manila—over P3 billion in taxes.

The company has invested in excess of P40 billion to modernize the MICT, handling over 47 million TEUs since 1988.

SOLIDIFYING CONVERGENCE.

The National Home Mortgage Finance Corp. signs a memorandum of agreement with Baque Corp. in collaboration with the local government unit of Biñan City, Laguna to kickstart the government’s Pambansang Pabahay Para sa Pilipino Housing Program in the Southern Tagalog Region through the construction of the Verida housing project in the city. Viewing the scale model of the Verida housing project and Biñan Central Square are (from left) Department of Human Settlements and Urban Development Region IV-A director Atty. Jan Roby Otero, National Home Mortgage Finance Corp. securitization group vice president Maria Luisa Favila, NHMFC president Renato Tobias, Baque Corp. chief operating officer Angelie Tan and president Ofelia Baque and Biñan City Mayor Arman Dimaguila.