THE modernization of the Poro Point Seaport entered its project preparation phase after the state-run Bases Conversion and Development Authority signed a P68.08-million consultancy contract for technical, financial and transaction advisory services.
The contract is financed through the Public-Private Partnership (PPP) Center’s Project Development and Monitoring Facility (PDMF) using an Asian Development Bank (ADB) loan.
It covers the preparatory work needed before the project can be offered to private investors under the PPP program.
BCDA President and Chief Executive Officer Joshua Bingcang signed the agreement on July 17 with the PPP Center and the joint venture of Isla Lipana and Co. and Cabrera and Co., which will serve as the project’s consultants.
The joint venture is expected to complete the project preparation phase by around the second quarter of 2028, during which the joint venture will undertake market studies, prepare feasibility and financial analyses, develop the project’s commercial structure, assist in securing government approvals, provide transaction advisory services during the bidding process and extend support after contract signing.
BCDA said the advisory work is intended to prepare the proposed port modernization for implementation through the PPP framework.
‘Modernizing the Poro Point Seaport will strengthen Northern Luzon’s logistics network while supporting the country’s long-term economic growth,’ Bingcang said.
The proposed project seeks to convert the existing bulk and break-bulk terminal into a containerized international seaport equipped with upgraded cargo-handling systems, terminal automation and modern logistics infrastructure.
BCDA said the modernization is expected to improve cargo-handling efficiency, shorten vessel turnaround times and enhance terminal operations.
The agency said the project’s total cost will only be finalized after the completion of the project preparation phase, when the scope, technical requirements and commercial structure have been established.
Construction is targeted to begin in the second quarter of 2027, with project completion expected by 2029.
BCDA also said the seaport project forms part of the broader Luzon Economic Corridor initiative, which aims to improve connectivity among Subic Bay, Clark, Metro Manila and Batangas through coordinated investments in transport, logistics, energy and digital infrastructure.
Once upgraded, BCDA said that the Poro Point is expected to serve as an additional international gateway for Northern Luzon, complementing other logistics hubs and supporting cargo movement and trade across the corridor.