DP World completed USD 100 mn project to upgrade a Philippines terminal

DP World and Asia Terminals Inc (ATI) have docked a USD 100 mn project to expand the Philippines’ Manila South Harbour, according to a statement released on Friday. The project featured an extension of the terminal Pier 3’s berth to over 600 meters and an expansion of the existing yard to accommodate 20k TEUs.

Out with the old, in with the new: The initiative also integrated new equipment, including the addition of two new ship-to-shore cranes and a sustainable landside apparatus. The move is set to hike the harbor’s annual throughput capacity by over 25% to almost 2 mn TEUs. Each crane — the largest to be deployed in the Philippines — can handle vessels carrying up to 20 containers wide and is equipped with intelligent sensing systems.

Looking forward: “We are lining up more investment projects in the coming years to future-proof the gateway terminals in Manila, Batangas, Cavite, and Laguna, in support of the resilient growth of the Philippine economy,” CEO Ahmed bin Sulaye said, without announcing any specific upcoming project details.

Background: We heard that DP World was reportedly looking to invest as much as AED 1.6 bn in ports across the Philippines back in October, including potential investments for a logistics hub and an industrial park that we heard about earlier this year.

IN OTHER COMPANY UPDATES- The first phase of DP World’s USD 2 bn expansionproject of its container terminal at Mozambique’s Maputo Port is now underway, it said in a statement released on Thursday. The first phase will see DP World invest USD 165 mn to double its annual capacity from 255k to 530k TEUs, extend the quay area, deepen the berth to accommodate larger vessels, and expand the container yard. Additional equipment will be introduced to boost its capacity as a logistics hub for Southern Africa.

SOUNDS FAMILIAR- Mozambican officials told Reuters back in January that construction on the first phase of the project began and is set to wrap within two years. Last year, DP World secured cabinet approval for a USD 2 bn expansion plan at Maputo Port, extending its concession until 2058 and committing USD 1.1 bn in further investment by 2033. DP World also previously reaffirmed its commitment to Mozambique, with plans to develop industrial parks and expand regional trade links.