Listed firm Asian Terminals Inc. (ATI) has earmarked over P5 billion for capital expenditure this year, lower by 17 percent compared to last year’s budget of around P6 billion.
ATI said in a statement yesterday it will spend over P5 billion this year for the continuous upgrade of its major port gateways for a smarter and faster Philippine supply chain.
The port operator added its planned investment for the year will support ongoing ports and logistics infrastructure projects across key sites in Manila, Batangas and Laguna as well as the acquisition of more modern and eco-friendly equipment in step with its growth strategy and in line with its investment commitment with the port authority.
Part of this investment program is the continuing expansion of yard and berth facilities in 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 turn-around-time for port users and move it 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.
In line with the government’s Build, Build, Build flagship program, ATI said it is also upgrading the Batangas Passenger Terminal (BPT), transforming the key maritime asset into the biggest, best and busiest interisland transport hub in the country. Phase 1 of the BPT expansion will be operational by the second quarter in time for the summer peak season.
Upon full completion in 2023, the new BPT will resemble the 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, ATI said.
“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,” said William Khoury, ATI executive director.
ATI reported revenues of P11.16 billion in 2021, up by 1.8 percent from P10.96 billion in 2020 on account of higher container volumes.
Its net income declined 24.3 percent to P2.24 billion from P2.95 billion in the previous year due to volume-driven expenses, rising fuel prices, sustained coronavirus resiliency measures and unfavorable foreign exchange rate impact.
ATI handled a consolidated volume of 1.3 million TEUs, 3.7 percent higher than 2020, with containers in Manila South Harbor and Batangas Container Terminal increasing by 3.9 percent and 3.8 percent, respectively. – Myla Iglesias
