Asian Terminals gets 25-year extension

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Oct 2007

Listed Asian Terminals Inc (ATI) has been granted a 25-year extension to its contract to manage and operate the state-owned South Harbour terminal in Manila. ATI, controlled by Dubai's DP World, has been operating the terminal since 1989 when it was awarded a concession by the Philippine Ports Authority (PPA).South Harbour, which can handle containers, general cargo and passengers, is one of the Port of Manila's four main terminals. Under a new contract signed with the PPA, ATI will manage, develop and operate South Harbour for another 25 years - until May 18, 2038 - immediately after its existing contract expires in 2013.PPA's decision to extend ATI's contract appears to have been influenced by the latter's plan to upgrade South Harbour. PPA general manager Oscar Sevilla said recently the agency intended to extend ATI's contract because the company was willing to spend US$350 million from 2014.The investment includes a new headquarters for PPA at South Harbour, extending existing crane rails and building new ones, installing two extra quay cranes at Pier 9 and developing an additional container yard next to its Eva Macapagal Passenger Terminal.ATI will also boost the capacity of its existing container yard and develop a common truck holding area. It is also looking at setting up a container freight station and another operations building at South Harbour.Manila-based ATI is one of the biggest port operators in the Philippines. Aside from South Harbour, it operates Terminal 1 at Batangas port, the Mariveles Grains Terminal and Makar Wharf in General Santos.