Globalport poised to take over Davao Sasa port

MANILA, Philippines — Globalport is poised to bag the contract for the management, operation, and maintenance of the Port of Sasa in Davao City which will add to its growing portfolio of terminals across the country.

In a stock exchange filing, Globalport 900 Inc. said a joint venture between subsidiaries Globalport Terminals Inc. (GTI) and Globalport Ozamiz Terminal Inc. (GP Ozamiz) has been declared by the Philippine Ports Authority (PPA) last May 16 as the bidder with the highest bid price for the Davao Sasa port.

Globalport said the total concession fee that the winning bidder would pay PPA for the period of 20 years is P8.64 billion.

GTI, formerly Harbour Centre Port Holdings Inc., is a 100 percent-owned subsidiary of Globalport.

GP Ozamiz, on the other hand, is 98 percent owned  by GTI which operates the Port of Ozamiz in Misamis Occidental under a 15-year port terminal management contract with the PPA

Globalport said once the joint venture receives the notice of award for the Davao Sasa port bidding, it would process the incorporation of an additional subsidiary named Globalport Davao Terminal Inc.

Upon its incorporation, GP Davao will be 99 percent owned by GTI.

Chelsea Logistics and Infrastructure Holdings Corp. of Davao-based businessman Dennis Uy  earlier abandoned its original proponent status (OPS) for the Davao Sasa Port modernization project, which paved the way for the PPA to bid out the terminal instead.

Globalport subsidiary GTI established last year a number of indirect subsidiaries for the purpose of management, operation, and maintenance of various ports in the country.

Globalport, through its indirect subsidiaries, operates the Port of Zamboanga in Zamboanga del Sur, Port of Ozamiz in Misamis Occidental, Port of Iligan in Lanao del Norte, Port of Tacloban in Leyte, Port of Matnog in Sorsogon, Port of Nasipit in Agusan del Norte, Port of Surigao in Surigao del Norte, Port of Tagbilaran in Bohol, and Port of Pulupandan in Negros Occidental.

“Through the foregoing indirect subsidiaries, Globalport will have active commercial operations in different parts of the country, bringing robust financial position for the group on a consolidated level, with a forecasted average annual consolidated gross revenue of P3.5 billion in the next five years,” the company said.