SBMA studying over P40 billion worth of projects
THE Subic Bay Metropolitan Authority (SBMA) said it has five projects in its pipeline valued at P41.43 billion, involving port upgrades and other works within the Subic Bay Freeport Zone.
At the Subic-Clark Business Conference on Friday, SBMA Chairman and Administrator Eduardo L. Aliño said he hopes to enhance Subic Bay’s main asset, its port.
“We understand that there is a need to continue to expand and develop,” Mr. Aliño said, adding that the authority anticipates continued demand growth.
One of the projects is the multi-purpose port terminal at Lower MAU, which covers a 570-meter wharf with a depth of 12.9 meters. It has a projected cost of P13 billion.
“This project will increase the port capacity by an additional 2.5 million metric tons of cargo,” the SBMA said.
MAU is the former camp for Marine Amphibious Units when Subic was under US military control.
Ronnie R. Yambao, senior SBMA deputy administrator for operation, said another project is the Subic Bay Cruise Ship Facility, which is expected to cost P10.16 billion.
“It will be a dual-berth facility, which is the first phase of the project. And then, the second phase, which covers the reclamation area, will accommodate commercial facilities to accommodate the guests,” Mr. Yambao said.
He said that the project aims to create a home port for cruise ships, as envisioned by the government’s National Cruise Tourism Program.
“Subic Bay as a home port is a game-changer project initiated by our chairman because we wanted to contribute to the National Government’s program to increase tourist arrivals. And one way to do that is by inviting cruise ships,” he added.
A third project is a multi-purpose port terminal at Redondo Peninsula, which includes a 600-meter wharf with a depth of 14 meters. It has a projected cost of P11 billion.
The project will increase the port’s capacity by 3 million metric tons of cargo.
Asked about the timeline, Mr. Yambao said that the SBMA is targeting to start the feasibility studies in time to offer the projects for public bidding before 2028.
Except for planned improvements to the Subic Bay International Airport, the projects could be financed through public-private partnerships or overseas development assistance. — Justine Irish D. Tabile