Metro Pacific Investments Corporation (MPIC) and Harbour Centre Port Terminal, Inc. have won the right for the development, management, operation, and maintenance of the North Harbor with their P14.5-billion bid.

MPIC announced that the Philippine Port Authority has accepted the bid by MPIC Harbour Centre and a Notice of Award to the joint venture has been formally issued.

The P14.5 billion bid submitted by the joint venture will cover the capital expenditure plan to reconfigure the existing ports, expand its operational area from 52 hectares to 70 hectares and improve operational facilities.

MPIC said this will raise more than P6.8 billion in revenues for the PPA over 25 years and decrease port rates at an average of 10 to 15 percent.

“We recognize that our investment in transforming North Harbor into a world-class global maritime trading hub will bring a significant impact to the nation’s economy. Our active management together with Harbour Centre will provide a strong platform for growth and asset improvement,” said MPIC chairman Manuel V. Pangilinan.

More than 1,000 workers of the different operators of North Harbor will be absorbed and not displaced, while an additional 20,000 jobs will be generated directly and indirectly by the ambitious construction and modern operations entailed in the modernization.

“After meeting all the criteria of the two-year rigorous pre-qualification and bid process mandated by the PPA’s terms of reference, we are pleased that we have finally won the bid for this ambitious project and start gearing up for another growth opportunity in MPIC’s core business in infrastructure,” said MPIC president Jose Ma. K. Lim.

The project will facilitate inter-island shipping and boost the economy as a whole since the harbor will be dredged to accommodate even bigger ships such as tankers and international luxury liners, said Lim.

The port will be fitted with modern cranes, including bigger and wider container and cargo depot to accommodate more containers coming from the provinces in the South.

Phase I of the project will be implemented over a period of six years. The first year of the contract should complete the crane rail for two Load On-Load Off (“LO-LO”) berths at Terminal 1 and pavement/concreting of container yards.

After the completion of the crane rail for the two LO-LO berths, the operator shall procure two shore cranes and support equipment.

Michael Romero, Harbour Centre CEO said “the modernization of North Harbor would revitalize and enhance economic activities in Manila, specially in Tondo and would result to the emergence of new and improved image of Manila and the Philippines.”