HARBOUR Centre Port Terminal, Inc. (HCPTI) said it is initially allocating P700 million as capital expenditures this year, mostly for facilities and information technology upgrade.
In a statement, HCPTI said the 2018 capex will be internally funded.
The port operator was on track to see a 16% increase in gross revenues in 2017, after seeing a 7% jump in vessel throughput and a 3% rise in cargo volume.
HCPTI Chairman Reghis M. Romero II was quoted as saying this would bring its total domestic and foreign cargo volume to 6.5 million metric tons by end-2017.
Mr. Romero attributed the strong growth to HCPTI’s “sound operating efficiencies and fiscal management, making the employees perform well to increase volume completion while reducing vessel turnaround time.”
“Driving HCPTI’s much-improved operating systems are strict adherence to global standards in all management aspects, real-time cargo and documentation processing and monitoring, compliance with government-enforced international security protocols, and a continuing equipment refleeting program,” he said.
As part of HCPTI’s refleeting program, the company last year acquired seven 15-tonner forklift to boost cargo-handling capacity.
HCPTI holds a 65% stake in the Manila North Harbor Port, Inc. (MNHPI). MNHPI signed the 25-year contract to operate, manage and maintain the North Harbor in November 2009.
