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Batangas Port up for grabs

Batangas Port up for grabs

Manila: The Philippine Ports Authority has set a minimum price tag of $10m for the rights to operate Batangas Port (pictured) for five years. Batangas, two hours south of the capital, Manila, is planned to become a key transshipment port for inter-island trade throughout the archipelago. The PPA is looking to privatize the port by December this year.

The PPA deliberately lowered the floor price for the first five years to attract bidders. The winning bidder will operate the port for 25
years.

PPA has signed a purchase agreement with Chinese manufacturer Zhenghua Port Machinery Corp. for gantry cranes and other cargo-handling equipment for Batangas Port worth P1. 063 billion, set for delivery this December.  [01/03/07]

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