Home » Ports/Terminals » Globalport 900 to raise $200M for PH port projects

PUBLICLY listed Philippine company Globalport 900 Inc is eyeing to raise $200-million through a secondary public offering this year to fund the acquisition of seven ports, according to president Michael Romero.

Eyed are two ports each in Mindanao and Visayas and one each in Sri Lanka, Indonesia and Guam.

The proceeds will also be used to consolidate the company’s port operations around the country. Globalport 900 is owned primarily by the Romero group, which also operates Harbour Centre Port Terminals, Inc (HCPTI) and Manila North Harbour Port, Inc (MNHPI).

Operations of HCPTI and MNHPI are widely expected to come under Globalport 900 soon.

Aside from the secondary offer, Globalport 900 is negotiating with foreign groups for an additional funding of $50 million to $100 million.

In other news, MNHPI said it will submit to the Philippine Ports Authority a final plan on a proposed interim bunkering facility for vessels calling at the North Port. The facility will occupy a 6,000-square-meter lot near Pier 14.

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