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The port terminal operating company of the Romero
family may acquire two ports outside the Philippines in line with
its expansion plans in the region.
The company plans to venture into
the port industry of Indonesia and Middle East to expand its
international geographical reach, Micheal Romero, chief executive of
Harbour Centre Port Terminal, Inc., said during the Philippine Stock
Exchange awards ceremonies Tuesday evening.
Romero said Harbour Centre has
also submitted its prequalification bid for the right to operate the
Philippine Veterans Investment Development Corp. (PHIVIDEC) port in
Cagayan de Oro City for 25 years.
For this venture, the
Manila-based company has partnered with a Singaporean firm that
currently handles one of the Iranian ports.
Last year, Harbour Center,
together with its partner Metro Pacific Investment Corp., was the
lone prequalified bidder for the right to run the North Harbor for
25 years. The Philippine Ports Authority, however, declared the
bidding a failure because only one party qualified and has put it on
hold while Harbour Centre actively contests the decision.
Romero said the company would
also expand the 79-hectare Manila Harbour Centre to accommodate a
planned oil depot. He said oil companies Pilipinas Shell Petroleum
Corp. and Petron are already in talks with them for a possible
transfer from the Pandacan oil depot. The Manila Harbour Centre has
a capacity for 6 million metric tons of oil reserves and 1,000
vessels a year.
To partly cover all these capital
expenditures, Harbour Centre plans an initial public offering of its
shares by the second half this year to raise between P2 billion and
P3 billion of fresh funds, representing about 20 percent of the
company. BDO Capital and Investment will serve as the underwriter
for the local maiden share offering.
--Likha Cuevas-Miel
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