MNHPI invests P9-B in North Harbor development
MANILA, Philippines - Manila North Harbor Port Inc. (MNHPI) has invested P9 billion for the expansion and development of the North Harbor facility.
Michael Romero, MNHPI chairman, said the investments already comprise the bulk of its P14.5 billion investment commitment made in 2010.
"Needless to say, to our government partners, we are right on schedule, if not even ahead of it," he said, at the inauguration of the Manila North Harbor passenger terminal building on Wednesday.
MNHPI is a joint venture between Harbour Centre Port Holdings Inc. (HCPHI) and Petron Corp. of San Miguel Corp.
Romero said the company has invested P4 billion into the Manila North Harbor development project, while P5 billion was allotted for various port developments.
“In terms of our commitment to our government partners, MNHPI is pleased to announce that our of the total investments we promised last 2010 or after barely three years, our group led by Ramon Ang of Petron/San Miguel and I have already invested P4 billion into Manila North Harbor while another P5 billion has already been contracted out for the various port development projects,” he said.
The company is now completing its container cargo terminal after finishing its P200 million terminal building, which has a capacity of two to three million passengers per year.
North Harbor is the largest and leading domestic port in the Philippines.