The Bases Conversion and Development Authority (BCDA) said it has obtained P74.90 million in provisional technical support funding for the modernization of the San Fernando International Seaport in Poro Point in La Union.
This provisional funding, secured under the Project Development and Monitoring Facility of the Public-Private Partnership (PPP) Center, will help fasttrack the Poro Point transformation from a bulk and break-bulk terminal into a world-class seaport, the BCDA said in a statement on Wednesday, August 6.
The BCDA said the provisional funding will cover the cost of the feasibility studies, market analysis, legal and financial structuring, PPP transaction support, and other related expenses.
The total project cost will be determined in the feasibility studies covered by the provisional funding, the BCDA added.
The BCDA and the PPP Center will jointly engage expert consultants to undertake the end-to-end preparation of the project under a PPP arrangement, following the recent issuance of a technical assistance agreement.
The BCDA said it would like to break ground on the Poro Point Seaport modernization by the second quarter of 2027, and fully complete the project by 2029.
Under the plan, the full redevelopment and modernization of the San Fernando International Seaport will enable full containerization, including the adoption of automated yard systems, the BCDA said.
The project will involve the installation of quay and yard cranes for faster cargo turnaround; expansion of the storage and stacking areas; deployment of advanced terminal operating systems; gate automation; and digital freight management, the BCDA explained.
It will also include the improvement of road and future rail connectivity for seamless cargo movement, the BCDA added.
“This project will streamline logistics, and anchor regional industries to more competitive supply chains,” BCDA President and Chief Executive Officer Joshua Bingcang said.
The project scope has six phases, according to the BCDA, beginning with project inception and market assessment, followed by feasibility study and structuring, and assistance in securing government approvals.
The process will proceed to the preparation of documents and PPP bidding support, and will conclude with post-contract signing advisory services, the BCDA explained.
Once operational, the upgraded seaport will support regional industries in Pangasinan, La Union, and the Ilocos provinces, and make Poro Point Freeport Zone more attractive to logistics investors and export-oriented manufacturers, the BCDA said.
