Asian Terminals Inc. (ATI) allocated over P5 billion in capital expenditures this year to upgrade its major port gateways in Manila, Batangas and Laguna as well for acquisition of more modern and eco-friendly equipment, the company disclosed on Thursday, March 17.
Part of ATI’s investment will expand its yard and berth facilities in Manila South Harbor to handle growing container volumes and bigger ships deployed by freight carriers.
This would result in quicker and safer terminal turn-around-time for port users and move ATI closer to increasing the international trade gateway’s annual throughput capacity from 1.4 million teus (twenty-foot equivalent units) currently to nearly 2.0 million teus by 2024, the company said.
In line with government’s Build-Build-Build flagship program, ATI is also upgrading the Batangas Passenger Terminal (BPT) into the biggest interisland transport hub in the country.
Phase 1 of the BPT expansion will be operational by the second quarter in time for the summer peak season, ATI said.
Upon full completion in 2023, the new BPT will resemble the fast-craft terminals in Hongkong and Macau, featuring fully airconditioned boarding lounges, food and entertainment kiosks, and other modern amenities, including facilities for differently abled passengers.
“As a trade enabler, we are very bullish of our infrastructure projects which would enable us to deliver faster, safer, and market-responsive services to our customers and further contribute to the country’s post-pandemic economic recovery,” said ATI Executive Director William Khoury.
In the same disclosure, ATI reported that its revenues for 2021 stood at P11.16 billion, up by 1.8 percent from P10.96 billion in 2020 on account of higher container volumes.
Net income reached P2.24 billion, declining 24.3 percent from P2.95 billion in the previous year due to volume-driven expenses, rising fuel prices, sustained Covid-19 resiliency measures, and unfavorable foreign exchange rate impact.
ATI handled a consolidated volume of 1.3 million teus, 3.7 percent higher than 2020, with containers in Manila South Harbor and Batangas Container Terminal increasing by 3.9 percent and 3.8 percent, respectively.