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Feasibility study to be done on new port for Zamboanga SEZ

Feasibility study to be done on new port for Zamboanga SEZ
A seaport project proposed by the Zamboanga City Special Economic Zone and Freeport Authority (ZamboEcozone) in the Philippines' troubled southern region has been granted funding for a feasibility study, the Public-Private Partnership (PPP) Center was reported as saying by local media.

The Project Development and Monitoring Facility (PDMF) cleared funding for the conduct of feasibility studies and transaction services for the San Ramon Newport Project, a proposed seaport within the ZamboEcozone.

It is hoped the port will help Zamboanga City’s become a regional maritime and transhipment hub for the Brunei-Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). This is a sub-regional cooperation group initiated in the 1990s that has since fallen dormant.

The port is being envisaged as a PPP project with a concessionaire undertaking the financing, development as well as operation and maintenance in exchange for the right to recover its cost through charging of fees for the use of the port facilities and services.

TAGS: Ports Regions