The Philippine Ports Authority (PPA) is pouring P16 billion into major maritime infrastructure projects over the next four years to modernize ports and boost domestic trade.
“We are earmarking P16 billion for PPA infrastructure projects in the next four years,” Jay Daniel Santiago, PPA general manager, briefed reporters on the occasion of its 50th founding anniversary.
In Luzon, PPA projects include the Port Capinpin Expansion in Bataan, the Curimao Port Expansion and Restoration, the Jose Panganiban Port Improvement in Camarines Norte, the Balogo Port in Camarines Sur and Wharf at the Claveria Port in Cagayan.
In the Visayas, its priority projects include the construction of a wharf and operational area at the Catacbucan Port in Bohol, the Tapal Port Expansion Project in Ubay Bohol, the New Port Development Project in Northern Samar, the Babatangon Port in Leyte, the Banago Port Improvement Project in Negros Occidental and the Ormoc Extension Project in Leyte.
Port projects in Mindanao include the construction of the Cargo Ship Port in Napa, Surigao del Norte, upgrading of the general cargo berth in Davao City and the Plaridel Port Expansion in Misamis Oriental.
Santiago said the state-run port authority has engaged consultants for the projects seen completed within one year.
Also completed were the cruise ship port at the 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 the Balanacan Port in Marinduque which aims to improve the port facilities and accommodate the growing demand of maritime trade and commerce in the province.
Santiago projects the PPA’s revenue to widen by 18 percent this year on the back of robust domestic trade. In 2023, the PPA generated P25.44 billion in revenue, higher by 24 percent from the year prior.
“We target to remit P5.5 billion in dividends to the national government this year,” he added.
The PPA remitted P5.06 billion in dividends to the Bureau of the Treasury equivalent to 58.25 percent of its net earnings in 2023.
