Asian Terminals wins concession renewal covering Manila South Harbor until 2063
The operator plans capacity upgrades, more automation and energy-efficient cargo equipment at the Philippine port.
Asian Terminals Inc. (ATI) said on November 12 that its concession for Manila South Harbor had been renewed for 25 years. The agreement with the Philippine Ports Authority covers the port’s operation and development from May 2038 until May 2063, according to ATI’s disclosure to the Philippine Stock Exchange.
Capacity expansion forms part of ATI’s plans for the harbour, alongside greater automation, advanced digital technology and cargo-handling equipment designed for energy efficiency. The company said the upgrades would help it respond to changes in trade patterns, higher cargo volumes and the requirements of shipping and logistics customers.
ATI president Eusebio Tanco said the renewed agreement would support further development with strategic partners DP World and Maharlika Investment Corp.
ATI put its investment in Philippine port development and modernisation over the past 40 years at more than ₱42 billion. It said its operations had contributed to moving approximately 30 million container twenty-foot equivalent units (TEUs), non-containerised cargo totalling 57 million metric tons and passenger traffic of 70 million.
