Subic Bay Terminal

Cancelled

Failure

ICTSI and the local company Royal Port Services signed the contract to develop a container and general cargo terminal at Subic Bay in Feb. 2000. After some legal wrangling, the project started to be implemented in Oct. 2000, and, by Dec. 2000, the sponsors had installed a gantry crane, increasing port calls of international cargo ships and boosting cargo handling capability from 20,000 to 120,000 containers a year. The project was undertaken by Subic Bay International Terminal Corp., a joint venture of Subic Bay International Terminal Holdings (85%) and Subic Bay Metropolitan Authority (15%). In turn, Subic Bay International Terminal Holdings was composed of ICTSI (83.33%) and Royal Port Services (16.67%). An estimated investment of US$ 4.9 million was to be undertaken during the 25-year contract period to convert the Naval Supply Depot into a common-user, multi-purpose terminal providing on-dock and off-dock cargo and container handling services. Financing for the project was provided by the government of Japan under a loan facility (Obuchi Fund). In April 2008, SBITC concluded its terminal operations at the Naval Supply Depot at Subic Bay Freeport and transferred them to the New Container Terminal-1 under the terms of a new concession contract awarded on Sep. 30, 2007.

Transport

World Bank Group

Project

Water Supply and Storage, Commercial, Seaport, Government