After getting a favorable ruling from the Supreme Court early this year, Harbour Centre Port Terminal, Inc. (HCPTI) said it is now working to realize its goals to modernize the Subic Bay Freeport Zone (SBFZ).
HCPTI intends to modernize SBFZ’s yard and cargo handling operations to generate new income streams, boost government revenues, create jobs, expand trade and attract local and foreign investments not only in the area but also the rest of the province of Zambales and the northern part of Luzon.
To recall, the SC’s Third Division in a ruling issued last May reversed and set aside the 2013 decision of the Court of Appeals and reinstated the order issued by the Olongapo City Regional Trial Court which compelled the Subic Bay Metropolitan Authority to award the P5 billion contract to HCPTI for the development, operation and management of several ports in the SBFZ.
In its ruling then, the High Court cited HCPTI’s “clear legal right” and SBMA’s correlative ministerial duty to approve the joint venture. It said there is no law justifying the non-issuance of the Notice of Award due to the withdrawal of the National Economic and Development Authority endorsement considering that HCPTI already has all the legal requisites for the project.
With this, HCPTI said the project can now proceed as it projected an increase in fees and taxes from the expected surge in SBFZ’s trade and business activities resulting from the Subic port’s modernization during the 10-year joint-venture period with the SBMA beginning September this year.
“All in all, that means helping raise the combined gross regional domestic product of Central Luzon, Cagayan Valley, Ilocandia and the Cordilleras, or the entire Northern Philippines to more than their total peak 2019 level of P3.53 trillion,” it said in a statement.
With the modernization of the ports, it said it expects the SBFZ to remain as the top tourist destination in Central Luzon and is envisioned to become the preferred sustainable investment and eco-tourism hub in Asia Pacific by 2030.
The project, according to the company, will also generate more job opportunities in the immediate area and neighboring provinces. At present, HCPTI said the number of SBFZ’s workers from Olongapo City is 64,474; Zambales, 27,087; Bataan, 18,062; Metro Manila, 5,091; Pampanga, 4,170); Tarlac, 1,900; and other places in the country, 24,446.
“Their number is expected to increase following the Subic Port’s infrastructure modernization and upgrading of services,’ it said, adding the modernization, “will also increase the SBF’Zs port terminal efficiency and productivity by speeding up its cargo processing and ship turnaround times and, thus, raise bulk and break bulk cargo volume.”
