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Asian Terminals’ P5-billion capex in 2022 will be for continuous upgrades of Manila, Batangas gateways and purchase of equipment
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Manila South Harbor’s yard and berth facilities expansion will help increase annual throughput capacity to nearly 2 million TEUs by 2024
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The Batangas Passenger Terminal is being upgraded, with Phase 1 coming on stream in the second quarter
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ATI net income fell year-on-year 24.3% in 2021
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But revenue grew 1.8% on higher container volumes
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The company’s consolidated volume jumped 3.7% in 2021
Port operator Asian Terminals Inc. will earmark more than P5 billion for capital expenditure this year as it continues to upgrade its port gateways in Manila and Batangas.
In a disclosure to the local bourse, ATI said its planned investment this year will support ongoing port and logistics infrastructure projects across key sites in Manila, Batangas and Laguna.
The company reported a net income of P2.24 billion in 2021, down 24.3% from P2.95 billion year-on-year due to volume-driven expenses, rising fuel prices, sustained COVID-19 resiliency measures, and unfavorable foreign exchange rate.
Higher container volumes, however, lifted revenues of P11.16 billion by 1.8% from P10.96 billion in 2020.
ATI handled a consolidated volume of 1.3 million TEUs last year, 3.7% higher than in 2020, with containers in Manila South Harbor and Batangas Container Terminal increasing by 3.9% and 3.8%, respectively.
A portion of the 2022 capex will fund acquisition of more modern and eco-friendly equipment in line with its growth strategy and investment commitment with the Philippine Ports Authority.
Part of the investment program is continuing expansion of yard and berth facilities at Manila South Harbor to handle growing container volumes and bigger ships deployed by freight carriers.
ATI said this would result in quicker and safer terminal turnaround for port users and move the port operator closer to increasing the international trade gateway’s annual throughput capacity from 1.4 million twenty-foot equivalent units (TEU) currently to nearly 2 million TEUs by 2024.
ATI is also upgrading the Batangas Passenger Terminal (BPT), as it transforms the facility into “the biggest, best, and busiest inter-island transport hub in the country.”
Phase 1 of the BPT expansion will be operational by the second quarter of this year, in time for the summer peak season.
Upon full completion in 2023, the new BPT will resemble fast-craft terminals in Hong Kong and Macau, featuring fully airconditioned boarding lounges, food and entertainment kiosks, and other modern amenities, including facilities for differently abled passengers.
“As a trade enabler, we are very bullish of our infrastructure projects which would enable us to deliver faster, safer, and market-responsive services to our customers and further contribute to the country’s post-pandemic economic recovery,” ATI executive director William Khoury said in a statement.
