Global supply chains solution provider DP World is readying P25 billion investments in port operations in the Philippines, according to Trade Secretary Cristina Roque.
In a virtual briefing on Monday, Roque said another company from the United Arab Emirates (UAE), Mardas, is looking for up to 500 hectares of property for its investments in renewable energy (RE) worth at least P600 million.
Roque said DP World is looking at operating new ports in the country and introduce advanced technologies in port handling while expanding its existing partnership with Asian Terminals Inc. (ATI).
Roque said she will meet with officials of International Container Terminal Services Inc. (ICSTI) to discuss “if they want to expand their port presence with DP World.” In the Philippines, ICTSI operates Manila International Container Terminal.
DP World’s partnership with ATI involves the operations of the Manila South Harbor, the Batangas Port and the Tanza Barge Terminal.
“DP World is on expansion mode… They are looking for areas where they can expand their port business. They are willing to invest P25 billion maximum. They are looking for local partners and also be able to operate ports which have yet to open, not the existing ones,” Roque said.
For the existing terminals it has partnerships in the Philippines, Roque said, DP World is eyeing to enhance the operations by including commercial areas beside the ports to include retail stores.
Meanwhile, Roque said Masdar is set to sign this week a memorandum of understanding with the Department of Energy for its planned investment in solar, wind and battery systems in the Philippines.
She said she has endorsed the project to the Mindanao Development Authority as Masdar needs 50 to 500 hectares for the investments which the company wants to start as soon as possible.
Roque added Masdar has been in talks with possible local joint venture partners.
