ASIAN Terminals, Inc. said it is allocating P4.6 billion for investments in its ports in Manila and Batangas this year in line with its commitment to the Philippine Ports Authority (PPA).
“Asian Terminals Inc. will continuously optimize its ports in Manila and Batangas for containerized cargo, non-containerized cargo and passenger handling, keeping these vital gateway port facilities competitive to customer needs and responsive to market demands,” the company said in a disclosure to the Philippine Stock Exchange on April 12.
ATI said that its Batangas Port “takes center stage this year” as the company positions the port for future growth in the domestic passenger roll-on/roll-off segments and the international container cargo business.
“ATI keeps its eyes open for more business growth drivers, including exploring new port operations locally or overseas, given the right opportunity,” the company said.
“Combining the global leadership of its strategic foreign shareholder DP World and the best of Filipino talent, ATI shall continue optimizing its resources, expertise and management capabilities to bring its competencies where growth potential is high and where it could add greater value to its shareholders,” it added.
DP World is a Dubai-based company that operates marine and inland terminals, maritime services, logistics and ancillary services, with container handling as its core business.
The company recorded a P1.91-billion net income in 2016, which is 7.8 percent higher than the P1.77 billion profit recorded in 2015, attributing the growth to record cargo volume in the Manila and Batangas ports.
ATI broke ground on a P1.3-billion multilevel car storage facility in March this year, which will allow the Batangas port to handle up to 7,000 vehicles at one time. The facility is expected to be completed by 2018.