The ambitious expansion plan will double the present capacity of 600,000 TEUs to 1.2 million TEUs.
At present the Subic port cargo volume averages at 75,000 TEUs or 15 percent of port capacity.
SBMA is now finalizing the terms of reference for the bidding of consultants which will undertake a detailed engineering to expand the container termina.
SBMA said it plans to award the consultancy before the end of the year.
The National Economic and Development Authority is now consolidating comments from various government agencies on the plan.
The new container terminals 1 and 2 in Subic, each with capacity of 300,000 TEUs, are currently operated by International Container Terminal Services Inc. through unit Subic Bay International Terminal Corp. (SBITC), which operates four quay cranes.
SBMA anticipates increased volume of trade in Subic where some of the goods are now being handled to help ease the port congestion felt in Manila.
In two to three years, trade volume in Manila is expected to double to 6 million TEUs from 3 million TEUs at present, the SBMA said.
Of the 3 million TEUs, 15 percent comes from the northern and central Luzon areas, which could otherwise be handled by Subic port.
The ports of Subic and Batangas have been designated by the government as alternative Manila ports due to the port congestion experienced in Manila last year.
SBMA has so far identified another 15-hectare lot for the new port.
In keeping with its strategy of future-proofing its ports, SBITC has recognized the need to expand the port in coordination with SBMA. (Irma Isip, Malaya Business Insight)
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The ports in Subic are currently operating at 15 percent of capacity but SBMA aims to double capacity of the terminals to 1.2 million TEUs.
http://www.malaya.com.ph/business-news/business/p10b-expansion-subic-port
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