DP World has announced it is joining with strategic partner Asian Terminals to invest US$100 million in a premier international trade gateway.
The pair will provide funding for the Manila South Harbour to receive a major operational boost, with milestone projects set to promote long-term economic growth and trade for the Philippines and the south-east Asia growth corridor.
The projects include the extension of Pier 3 berth to more than 600m, yard expansion to accommodate 20,000 TEUs, the addition of two new Ship-to-Shore cranes and the purchase of eco-friendly landside equipment.
An official ceremony was held to celebrate the development, which sees the Manila South Harbour’s annual throughput capacity rise to nearly two million TEUs.
This enables the terminal to accommodate more cargo volume and bigger ships deployed by international carriers, providing faster and safer turnaround times to support the country’s international trade.
“DP World is honoured to be partnering the Philippine government in modernising and advancing its critical trade infrastructure, by working closely with our local partner ATI,” DP World Group chairman and CEO His Excellency Sultan Ahmed bin Sulayem says.
“Investment in ports and logistics brings greater value down the value chain and prosperity to communities, a commitment which we embody in DP World as a trade enabler and leader in smart logistics.
“Building on our strong partnership and seeing huge economic potential, we are lining up more investment projects in the coming years to future-proof the gateway terminals in Manila, Batangas, Cavite and Laguna, in support of the resilient growth of the Philippine economy.”
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